Footwear retailer Shoe Zone has registered revenue of $161.9m (£119.1m) in fiscal year 2021 compared to $166.7m (£122.6m) in 2020.

The retailer, which traded just 36 of the total 52 weeks due to Covid-19, posted $120.5m (£88.6m) in store revenue, while digital revenue is $41.8m (£30.5m).

During the year, the company posted a pre-tax profit of $12.9m (£9.5m) compared to a loss of $19.8m (£14.6m) in 2020.

In 2021, Shoe Zone reported earnings per share (EPS) of 14.0p against a loss per share of 23.8p the prior year.

Shoe Zone chief executive Anthony Smith said: “Shoe Zone had a very successful year due to the incredible hard work of our teams, by reducing costs, reducing non-essential capital expenditure, continuing to accelerate investment in our digital business alongside improving and streamlining operations.

“The company ended the period with a cash and equivalent balance of £19.0m (2020: £13.3m) and a net cash balance of £14.6m (2020 £6.3m).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

“The increase in cash has been achieved through the measures taken by the business over the last 12 months, which restricted capital expenditure and significantly reduced all areas of cost. As at the Period end we were up to date on all creditor and rental payments.”

The retailer shuttered 50 underperforming stores and converted another 10 existing stores into its new formats.

It ended the year with 410 stores including 343 Original stores, 51 Big Box stores and 16 Hybrid stores.

In May last year, Shoe Zone permanently closed all its stores and website in Ireland as it continues a review of its store portfolio.