Retailer in talks

Schuh plunges to loss as landlords urged to reduce rents

Schuh
Schuh’s new store at Bluewater

Stores have seen a downturn in activity

Footwear retailer Schuh plunged to a loss as it continues to negotiate lower rents and presses for action on rates.

The Scotland-based company has already embarked on a big cost-cutting programme and will decide soon on whether to wind up its operations in Germany.

Struggling stores contributed to a loss of £6.1 million from a pre-tax profit in 2018 of £13.1m.

Turnover the year fell from £308.5m to £288.4m despite an increase in online sales “masking a considerable drop in store sales.”

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