Shoe Zone, the discount retailer suffered a 拢28.5 million drop in sales over the last six months, compared to a year earlier.
The chain reported sales of 拢40.4 million in the six months to April 3 鈥 down from 拢68.9 million 鈥 after stores were forced to close in January because of the lockdown.
Shoe Zone made pre-tax losses of 拢2.6 million for the period, and shares in the business were down 13 per cent this morning at 64.3p.
Like many big 海角视频 retailers the Leicester-headquartered chain was helped out by a big growth in online sales, which more than trebled for the six months to 拢17.6 million. They had been just 拢5.5 million a year earlier.
In-store sales, meanwhile, fell from 拢63.3 million in the six months leading up to the first lockdown, to 拢22.8 million.
Stores were shut for a total of 16 weeks during the six months, with the majority of staff furloughed.
The business said it was reviewing the viability of each of its stores, having cut the total number by 38 to 422 during the period.
Shoe Zone said it had also pulled out of the Republic of Ireland, which had contributed annual sales of around 拢2.7 million.
Writing in the company鈥檚 latest interim results, chief executive Anthony Smith said the company would continue opening so-called 鈥淏ig Box鈥 stores on retail parks 鈥 albeit at a slower rate 鈥 and building digital sales.
He said: 鈥淭he last 12 months have been like no other in the company鈥檚 history.
鈥淭he Covid-19 pandemic has had a huge social and economic impact around the world and has led to huge consequences for all businesses, including our own, as we have had to adapt and change to meet the significant challenges in the last year and I thank our loyal and committed staff during this period.
鈥淗owever, we have come through this challenging period and are now in position to continue our strategy going forward, with the assumption that no further lockdowns are required.
鈥淭he strategy outlined before the Covid-19 pandemic took hold is still the general direction the directors believe is the route to be taking going forward.
鈥淭he last 12 months has demonstrated the need to build on the significant successes within our digital business.
鈥淭he investments we have made have put us in a strong position to enable our customers to buy throughout the lockdown, resulting in strong growth over this period.
鈥淒igital growth will continue to be a big part of our future strategy along with our focus on Big Box and Hybrid expansion.
鈥淭hese new stores will be at a lower pace due to cash constraints.
鈥淲e have had to adapt and reshape our business to react to extremely difficult trading conditions.
鈥淲e enter the second half of the financial year with the hope that we have seen the worst of the Covid-19 impact and look forward to the stores getting back to what we would call 鈥渘ormal鈥 trading conditions, with no further lockdowns.
鈥淣o stores were open in the first two weeks of the 2nd half. Trading started strongly but has settled down to a more mixed picture of good high street and retail park sales but weaker shopping centre performance.鈥
