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| The retailer's store in Freshney Place - one of 297 nationwide |
THERE are hopes that the Grimsby branch of Shoezone will be spared a store closure programme that is likely to be announced in the New Year.
In a pre-Christmas announcement, the retailer said trading had come under pressure as a result of various unfavourable circumstances.
The statement said: "Shoezone announces that for the first two months of its financial year and the first half of December, it has experienced very challenging trading conditions, principally a weakening of consumer confidence and unseasonal weather, both of which have decreased revenue and profit.
"Consumer confidence has weakened further following the Government's budget in October 2024, and as a result of this budget, the company will also incur significant additional costs due to the increases in National Insurance and the National Living Wage.
"These additional costs have resulted in the planned closure of a number of stores that have now become unviable.
"As a result, the company now expects adjusted profit before tax for the financial year ending 27 September 2025 to be not less than £5-million down from previous expectations of £10-million.
Shoezone currently has a portfolio of 297 stores and approximately 2,250 employees across the UK.
During an average year, it sells 13.9 million pairs of shoes at an average retail price of £13.30.
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