Shoe Zone, the discount retailer suffered a £28.5 million drop in sales over the last six months, compared to a year earlier.
The chain reported sales of £40.4 million in the six months to April 3 – down from £68.9 million – after stores were forced to close in January because of the lockdown.
Shoe Zone made pre-tax losses of £2.6 million for the period, and shares in the business were down 13 per cent this morning at 64.3p.
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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 £17.6 million. They had been just £5.5 million a year earlier.
In-store sales, meanwhile, fell from £63.3 million in the six months leading up to the first lockdown, to £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 £2.7 million.
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Writing in the company’s latest interim results, chief executive Anthony Smith said the company would continue opening so-called “Big Box” stores on retail parks – albeit at a slower rate – and building digital sales.
He said: “The last 12 months have been like no other in the company’s history.
“The 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.
“However, 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.
“The 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.
“The last 12 months has demonstrated the need to build on the significant successes within our digital business.
“The 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.
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“Digital growth will continue to be a big part of our future strategy along with our focus on Big Box and Hybrid expansion.
“These new stores will be at a lower pace due to cash constraints.
“We have had to adapt and reshape our business to react to extremely difficult trading conditions.
“We 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 “normal” trading conditions, with no further lockdowns.
“No 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.”