Discount footwear chain Shoe Zone has reported a 75 per cent surge in annual profits after the best August in its 34-year history.
The Leicester-based retailer said pre-tax profits were about £11.4 million in the year to October 4, compared to £6.5 million in the previous 12 month period.
However, revenue was down 11 per cent to £172.5 million, which was blamed on a restructure of its store network as it looks to open 17 stores and close temporary ones.
Shoe Zone, which has more than 500 stores, is relocating to larger, more prime sites after floating on the London Stock Exchange's Alternative Investment Market in May.
Chief executive Anthony Smith said: "We are delighted to report our profit will be in line with expectations having had the best August in the group's history followed by a slow September, with a late start to the boot season.
"I am pleased to report that the boot season is now in full swing and the first two weeks of the new financial year have been good."
The company employs 4,100 staff, including 300 at its head office in Haramead Business Centre, off Humberstone Road, Leicester, and another 40 staff at county stores. The group sells more than 20 million pairs at an average price of £9.77.
