×
6 695
Fashion Jobs
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
AESOP
Retail Consultant | Full-Time | Aesop st James Quarter, Edinburgh, Scotland
Permanent · London
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
HEAD OFFICE
Digital Product Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Llandudno
Permanent · LLANDUDNO
NEW LOOK
Sales Manager
Permanent · STRETFORD
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
CANADA GOOSE
Security Ambassador- Part Time
Permanent · MANCHESTER
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
HARRODS
Digital Production Manager
Permanent · LONDON
HARRODS
Senior Mechanical & Electrical Project Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Lincoln Valentine Retail Park
Permanent ·
HARVEY NICHOLS BRISTOL
Security Guard - 40hrs
Permanent · BRISTOL
HARVEY NICHOLS KNIGHTSBRIDGE
Brand Consultant - Dries Van Noten
Permanent · LONDON
FRASERS GROUP
HR Administrator
Permanent · SHIREBROOK
SELFRIDGES
Production Manager- Ftc
Permanent · LONDON
NEXT
Delivery Manager - New Malden
Permanent · NEW MALDEN
NEXT
Stock Coordinator - Walton on Thames
Permanent · WALTON-ON-THAMES
Ads
Published
Sep 16, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Schuh brings in adviser to target cut in store costs

Published
Sep 16, 2019

Genesco’s struggling British footwear chain Schuh has reportedly called in a consultancy group, Capa, to examine ways of cutting its rental bill. It has also been working with its long-term adviser KPMG on options.


Schuh



Rents continue to be one of the largest costs for many retailers and large numbers of them have opted for company voluntary arrangements (CVAs) in recent years as they seek to exit expensive leases early and focus on their most profitable shops.

Schuh has 132 locations in the UK and Ireland but has been facing many of the same problems that have confronted its peers both in the footwear and clothing sectors.

Earlier this summer, the Scottish company said it was closing its physical shops in Germany (although it continues to be available online in that country) and in the spring, its buying director stepped down with immediate effect.

Almost a year ago, the company had reported its latest set of annual results and said that a “lacklustre” festive sales period caused a 10% decline in pre-tax profits for the year to 3 February 2018. That was despite turnover rising. If the same promotional atmosphere has continued, which we can only assume it has, then trading is unlikely to have improved. With Genesco having paid £100 million+ to buy the brand back in 2011, it will clearly be looking for signs that it can be turned around.

Schuh employs 4,000 people and The Times reported that Capa is a specialist in cutting property costs and also worked on administrations for Woolworths, Jessops and Jaeger.

The UK's specialist footwear chains have had as tough a time of it as others in the fashion sector. As well as value-priced giant Shoe Zone recently reporting difficult trading and the departure of its CEO, both Office and Clarks have been looking at options for their store estates. Closures for the former plus rent reductions for the latter seem likely.

Copyright © 2022 FashionNetwork.com All rights reserved.