Schuh UK posts strong growth in 2023 sales and profit

Footwear retailer Schuh’s turnover in the UK increased by 7.4 percent to 380.8 million pounds and footfall increased by 3.8 percent across its stores. The company said in a filing that ecommerce sales improved by 10 percent like for like.

Ebitda for the year increased by 35.8 percent to 28 million pounds, pre-tax profit jumped by 56.8 percent to 21 million pounds and profit after tax by 54.8 percent to 16 million pounds.

Schuh said in the filing that while the retail environment continues to pose difficult trading conditions it will continue to review the store portfolio to ensure that the company is best placed to adapt to this changing environment.

“We believe our continued investment in driving efficiency and operational improvements through technology will serve us well,” it said.

At the year end, Schuh group operated 121 stores across all territories, including both street-level, retail parks and mall locations in the United Kingdom, Channel Islands and the Republic of Ireland.

The company closed three stores and opened two new stores during the year under review. It also sells footwear through e-commerce operations with specific UK, EU, Irish and German website domains.