Schuh creates almost 350 jobs as sales take £50m step forward

Schuh created almost 350 jobs as its sales surged by nearly £50m, new documents have revealed.

The Scotland-headquartered footwear retailer increased its headcount from 3,633 to 3,977 in the year to January 28, 2023, as delayed accounts show.

Owned by US retail group Genesco, Schuh also posted a turnover of £353.4m for the 12 months, up from £305.8m, while its pre-tax profits grew from £11.6m to £13.4m.

Schuh, which is based in Livingston, West Lothian, saw its UK turnover increase from £289.5m to £328.2m and its sales in Europe rise from £16.3m to £26.2m.

A statement signed off by the board said: “Turnover increased by 15.9 per cent as the High Street continues its post-pandemic recovery and footfall increased 45 per cent in our stores.

“E-commerce performance continues to be strong but is -9.2 per cent like for like as it gives way to the strong store recovery.

“Full price sell-through has been satisfying with margins holding up well against expectation.”

During the year the number of stores that Schuh operated remained at 122.

Schuh added: “While the retail environment continues to pose difficult trading conditions we will continue to review our store portfolio so it ensure we are best placed to adapt to this changing environment.

“We believe our continued investment in driving efficiency and operational improvements through technology will serve us well.”

Schuh was listed on the London Stock Exchange when Genesco made a £162m takeover bid in 2011.

At the time, the retailer had 58 stores in the UK and Ireland as well as 16 concessions.