Schuh reports strong growth amid challenges - footwearbiz: Leading sit

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Schuh reports strong growth amid challenges

04/11/2024
UK based Schuh, the Genesco-owned footwear retailer, reported strong financial growth in its accounts for the year ending 3 February 2024. Turnover rose by 7.4% to £380.8 million ($495 million), while EBITDA increased by 35.8% to £28 million. Pre-tax profit grew by 56.8% to £21 million ($27.3 million).

The company attributed these gains to a 3.8% rise in store footfall and a 10% like-for-like increase in ecommerce sales. Schuh's average workforce also grew, reaching 4,371 employees, up from just under 4,000 the previous year.

Schuh stated that, despite ongoing challenges in the retail environment, it plans to expand its store portfolio and continue investing in technology to enhance operational efficiency.

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