×
60
Fashion Jobs
NIKE
Manager, gc - Strategic Account
Permanent · Hong Kong
ESTÉE LAUDER COMPANIES
Online Business Analyst, Asia Pacific
Permanent · Hong Kong
VF
Senior Merchandising Manager - Regional Line Product Creation
Permanent · 香港
ESTÉE LAUDER COMPANIES
Lead, Project Manager, IT, Asia Pacific
Permanent · Hong Kong
JO MALONE LONDON
Education Director, jo Malone London, Asia Pacific
Permanent · Hong Kong
VF
Senior Merchandising Manager
Permanent · 香港
VF
Senior Merchandise Operations Manager
Permanent · 香港
VF
Area Manager
Permanent · 香港
VF
Business Analyst
Permanent · 香港
VF
Manager, Global Supply Planning
Permanent · 香港
VF
Senior Manager, Quality Strategy
Permanent · 香港
VF
Supply Chain Operations Manager, Dickies Asia
Permanent · 香港
VF
Merchandise Manager
Permanent · 香港
ESTÉE LAUDER
Regional Education Director, Estee Lauder, Asia Pacific
Permanent · Hong Kong
VF
Senior Manager, Regional Projects
Permanent · 香港
LEVI'S
Gsp Purchasing Operations Analyst
Permanent · Wan Chai
ESTÉE LAUDER COMPANIES
Contract HR Services Representative, Asia Pacific (6-Months Contract)
Permanent · Hong Kong
NIKE
sr Marketplace Planning Manager
Permanent · Hong Kong
COS COLLECTION OF STYLE
Cos Part Time Sales Advisor
Internship · HONG KONG
ESTÉE LAUDER COMPANIES
Senior Lead, Supply Chain Application Support, Asia Pacific
Permanent · Hong Kong
EXCUSE MY FRENCH
Sales Executive
Permanent · HONG KONG
ESTÉE LAUDER COMPANIES
Senior Director, Data & Applications, IT, Asia Pacific
Permanent · Hong Kong
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 © 2021 FashionNetwork.com All rights reserved.