A UK footwear giant has permanently closed 18 stores after sales fell and the company posted a loss of one million pounds.
The firm announced a £1 million loss, citing cost pressures.
Approximately 18 Shoezone stores have now been shut, cutting the chain's retail estate to 251, down from 269 in October 2025.
Currently, the retailer runs 211 larger-format stores and 40 original high-street outlets.
Investors were told to "brace" themselves after the loss was disclosed.
Shoe Zone added that the autumn/winter season had been slower than expected, affecting the final weeks of its financial year.
In April, the company blamed the war in Iran for rising costs, including higher fuel, transport expenses and container prices for shipping.
It also noted that weaker sales and reduced consumer confidence added to the financial strain.
The firm had to close 14 sites in the first half of 2026, after shutting 36 stores in 2025.
To counter losses, the high-street chain has tried to attract younger Gen Z shoppers and new parents, while moving and upgrading stores to larger formats.
Shoe Zone chairman Charles Smith said: "This was a challenging year, particularly in the first half, as consumer confidence continued to be weak, and fell further following the Government's November 2025 budget, with persistent inflation, higher interest rates remaining elevated and reduced levels of disposable income all contributing to a generally negative economic and consumer sentiment in the UK."
