Deichmann: UK sales step up to new record as loss slashed

Sales at shoe retailer Deichmann have stepped up to a new record level as its pre-tax loss was slashed by more than 50 per cent during its latest financial year.

The Leicestershire-headquartered UK arm of the German group has reported a turnover of £139.1m for 2023, up from the £121.7m in 2022.

According to newly-filed accounts with Companies House, Deichmann’s pre-tax loss also reduced from £3.2m to £1.2m over the financial year.

The last time Deichmann reported a pre-tax profit was the £332,000 it achieved in 2017. Since then the company has lost almost £20m.

During the year the average number of people employed by Deichmann increased from 1,352 to 1,433.

Deichmann ups sales after opening new stores

A statement signed off by the board said: “The company had a good increase in sales in 2023 through like-for-like sales growth and opening of new stores.

“Nine new stores were opened during the year, one relocated and one closed, brining the total of 134 stores.

“Online sales also continued to grow, leading to a total sales increase of 14 per cent.

“As always, our staff worked tirelessly to provide excellent customer service and strive to maximise sales.

“We are very grateful for all of the hard work and dedicated demonstrated by our teams to keep the business serving our customers.”

Deichmann added that its plans for the future include opening new stores and “additional focus on keeping stock levels to a minimum”.

For the same financial year, the wider Deichmann group reported a record revenue of €8.7bn.

The family-owned group operates across 34 countries and operated around 4,700 stores in 2023, up from 4,600.