Shoe Zone, the U.K. footwear retailer, has announced a rise in pretax profit for fiscal 2023, citing strong performance during key trading periods. The company’s pretax profit for the year ending Sept. 30 reached £16.2 million ($20.7 million), up from £13.6 million in fiscal 2022. Revenue also saw an increase, rising to £165.7 million from £156.2 million.
Shoe Zone attributed its robust results to a strong second half, driven by successful peak summer and back-to-school seasons. As a reflection of these positive financials, the board has declared a final dividend of 8.9 pence per share, as well as proposing an additional special dividend of 6.0 pence per share. This brings the total dividend to 17.4 pence per share, compared to 17.0 pence last year.
“We are pleased to see solid growth across our business, which has allowed us to invest in store refits and our digital strategy. Our efforts to reduce costs and streamline operations have positioned us well for the future,” said Shoe Zone.
The company also highlighted its ongoing commitment to store refits and relocations, as well as its focus on driving its digital strategy moving forward.