Shoezone's store shakeup
Shoezone, a popular British high street retailer, will be closing additional stores in the coming months, following a series of closures that have already taken place. Since its establishment in the 1980s, Shoezone has become a staple part of the retail landscape.
According to local reports, nine Shoezone stores have already closed this year, and an additional five will shut down before the end of the year. The affected locations include Crewe, Hinckley, Beccles, Edinburgh, and the Isle of Wight.
Although closing down signs have been put up at all the sites slated for closure, official dates have not been announced yet. However, it is believed that the Isle of Wight store on Regent Street, Shanklin, will be closing down in September, though this has not been confirmed. The County Press publication has reported that the staff at this location will be made redundant. There are also reports from Cheshire Live suggesting that the Crewe store at the Grand Junction Retail Park might be relocating.
Shoezone's Edinburgh site in the Cameron Toll shopping centre is set to close in July. Additionally, the bargain shoe retailer has already closed two branches this month, one in Waterlooville and another in Southend. However, Southend shoppers will be relieved to know that the closure of the Southend store is temporary, as a new store will be opening nearby on May 28.
In its recent half-year results, Shoezone reported an increase in sales but a significant decrease in profits, primarily due to rising inflationary pressures. The company attributed these pressures mainly to changes in the National Living Wage. As a result, Shoezone is "accelerating" its refit and relocation program, with plans to double the number of "big box" locations to around 100 and increase the number of "hybrid" stores to 200 in the medium term.
According to Shoezone's latest report, the company currently operates 336 stores, which is 52 fewer than the previous year. Below is the full list of Shoezone stores scheduled to close this year:
- Grand Junction Retail Park, Crewe To Be Confirmed (TBC)
- Hinckley TBC
- Beccles TBC
- Isle of Wight Scheduled to close in September 2023
- Edinburgh Scheduled to close in July 2023
Shoezone has been facing challenges but remains committed to its ongoing business strategy of refitting and relocating stores to adapt to changing market conditions and customer demands.