Shoezone is planning to close more stores in 2025, following a series of closures in recent years. The company cites weakening consumer confidence, unseasonal weather, and rising business costs as key factors driving the closures.
Shoezone has reduced its store count from approximately 320 in May 2024 to 297 by the end of the year. Company leaders have warned that further closures could be on the cards for 2025, following the closure of over a dozen 'unviable' outlets last month.
Anthony Smith, Chief Executive of Shoezone, stated that the company has encountered 'very challenging trading conditions,' primarily due to a decline in consumer confidence and unpredictable weather, both of which have negatively impacted revenue and profit. He further explained that consumer confidence has deteriorated further after the government's budget announcement in October 2024. Smith also asserted that anticipated increases in National Insurance and the National Living Wage forced the brand to close up to 20 stores, directly linking these increases to the closures. While a definitive list of closures is yet to be released, reports indicate that potential London locations slated for closure include Wembley, Holloway, and Harrow. Other locations across the country, such as Leeds, York, Newcastle, and Sheffield, remain uncertain. Currently, the future of every store is hanging in the balance as Shoezone's decision-makers scrutinize all sites before finalizing which will permanently cease operations. This bleak update coincides with recent data from the Centre for Retail Research, which revealed that over 13,000 high street stores closed in 2024, a surge of over a quarter compared to the previous year. This signifies a turbulent period for UK retailers, according to reports from the Express. Shoezone is facing the possibility of closing several more stores by 2025, continuing a trend that has seen numerous branches shut down in recent years. In 2023, the retailer closed 13 stores, and in the year leading up to October 2022, 63 stores ceased operations. The company also experienced closures throughout 2024, including a notable exit from Kilmarnock's Burns Mall, which was put on the market with a £2.85 million price tag
Retail Closures Shoezone Consumer Confidence Economic Challenges
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