Latest news with #Footasylum
Scottish Sun
4 days ago
- Business
- Scottish Sun
High street chain launches 50% off ‘closing down' sale ahead of shutting popular town centre store forever
Several other retailers have deserted the town Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR shoe retailer with more than 60 stores across the UK is set to shut a popular location for good. Shoppers will be able to snap up some bargains as the branch has launched a closing down sale. Sign up for Scottish Sun newsletter Sign up 1 Footasylum is to close its store in Swindon town centre Footasylum will close a store in Swindon. The streetwear and shoe chain is set to shutter its spot at The Parade in the town centre. The sale includes massive savings of up to 50%. Imminent closure Signs have been placed in the entrance informing customers of the imminent closure, reports Swindon Advertiser. Footasylum operated out of around 60 stores at the start of 2025, but have already shut several locations across the country since the start of the year. In March, the streetwear and shoe chain shuttered a spot at The Core Shopping Centre in Lands Lane, Leeds. This branch opened in April 2022 but was closed following the chain's restructuring. High street chain with 185 stores launches 70% off closing down sales ahead of 25 shops shutting Footasylum's departure is the latest blow for high street shopping in Swindon. It follows a series of high-profile closures in The Parade, with stationery retailer Smiggle shutting their town centre store on July 24, and opening their new Swindon location in the Designer Outlet one week later. Charity shop Swindon Sisters Alliance, footwear retailer Schuh and Second Cup Coffee Company have also vacated the street in recent times. The Parade's flagship building, which was formerly the home of Debenhams, has also stood empty for five years, despite developers' continued attempts to turn the prominent unit into a self-storage hub. The Sun has approached Footasylum for comment on the closure and whether a date has been set for the store to shut. Tough trading Footasylum has not been the only brand to lose out on stores recently. Select Fashion revealed it was ready to wipe dozens of stores from the high street. It comes after documents, shared with The Sun, detailed how a total of 35 stores would shutter across February and March. It is understood that closures will complete by March 15, giving shoppers in impacted areas just shy of two weeks to say their goodbyes. Homebase was once a giant of British retail but has since nearly disappeared from the map. The DIY chain entered administration in November last year but was partially rescued by billionaire Chris Dawson, owner of CDS Superstores, the parent company of The Range and Wilko. Dawson's vision for the company is to preserve as many as 70 stores, protecting 1,600 jobs. Despite this, three locations closed in March, including branches in Bury St Edmunds, Dunfermline and Leeds.
The Sun
4 days ago
- Business
- The Sun
High street chain launches 50% off ‘closing down' sale ahead of shutting popular town centre store forever
A MAJOR shoe retailer with more than 60 stores across the UK is set to shut a popular location for good. Shoppers will be able to snap up some bargains as the branch has launched a closing down sale. 1 Footasylum will close a store in Swindon. The streetwear and shoe chain is set to shutter its spot at The Parade in the town centre. The sale includes massive savings of up to 50%. Imminent closure Signs have been placed in the entrance informing customers of the imminent closure, reports Swindon Advertiser. Footasylum operated out of around 60 stores at the start of 2025, but have already shut several locations across the country since the start of the year. In March, the streetwear and shoe chain shuttered a spot at The Core Shopping Centre in Lands Lane, Leeds. This branch opened in April 2022 but was closed following the chain's restructuring. Footasylum's departure is the latest blow for high street shopping in Swindon. It follows a series of high-profile closures in The Parade, with stationery retailer Smiggle shutting their town centre store on July 24, and opening their new Swindon location in the Designer Outlet one week later. Charity shop Swindon Sisters Alliance, footwear retailer Schuh and Second Cup Coffee Company have also vacated the street in recent times. The Parade's flagship building, which was formerly the home of Debenhams, has also stood empty for five years, despite developers' continued attempts to turn the prominent unit into a self-storage hub. The Sun has approached Footasylum for comment on the closure and whether a date has been set for the store to shut. Tough trading Footasylum has not been the only brand to lose out on stores recently. Select Fashion revealed it was ready to wipe dozens of stores from the high street. It comes after documents, shared with The Sun, detailed how a total of 35 stores would shutter across February and March. It is understood that closures will complete by March 15, giving shoppers in impacted areas just shy of two weeks to say their goodbyes. Homebase was once a giant of British retail but has since nearly disappeared from the map. The DIY chain entered administration in November last year but was partially rescued by billionaire Chris Dawson, owner of CDS Superstores, the parent company of The Range and Wilko. Dawson's vision for the company is to preserve as many as 70 stores, protecting 1,600 jobs. Despite this, three locations closed in March, including branches in Bury St Edmunds, Dunfermline and Leeds. 'Bleak outlook' – more stores set to close in 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce showed that more than half of companies planned to raise prices by early April. A survey of more than 4,800 firms found that 55% expected prices to increase in the three months up to July, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Yahoo
09-07-2025
- Business
- Yahoo
UK Retailer Footasylum Touts ‘Standout Performance' in Fiscal 2025
Footasylum chief executive officer David Pujolar is touting a 'standout performance' and 'record results' for fiscal 2025. The UK-based footwear and sportswear retailer reported that its total revenue for the year increased 9.4 percent to 349.5 million pounds, up from 319.5 million pounds in fiscal 2024. Net profit after text was up 625 percent to 19.9 million pounds in fiscal 2025, up from 2.8 million pounds last year. More from WWD Bonhams to Auction 'Downton Abbey' Costumes, Props Ahead of Final Film Release EXCLUSIVE: Here's What the First Plan C Flagship in Milan Will Look Like Last Yarn Is Saving Miles of Fabrics From Landfill The company also saw same store sales increase 3 percent to 172.6 million pounds, and online sales increased 6 percent to 143.1 million pounds. Exclusive brand sales were also up 101 percent to 33.7 million pounds, which now accounting for 10 percent of company's revenue. 'I'm pleased to report that our strong trading has continued into the current financial year, ahead of both the prior year and budget,' Pujolar said. 'These results reflect progress across all areas of the business, from store expansion and the growth of our exclusive brands, through to the continued success of our omnichannel model and our focus on first-class customer service.' The CEO noted that the company's relationships with brands like Nike, Adidas and New Balance continued to grow in 2025 and 'remain central' to its assortment. New product development is expected to drive further progress in the year ahead, he added. 'While the wider macroeconomic environment remains challenging, demand for our unique offer remains strong,' Pujolar said. 'The creativity and energy of our people, without whom none of this would be possible, continues to set us apart.' Nick Scott, Footasylum's chief financial officer, added that the company's store opening and upsizing program, based on the blueprint of its Oxford Street flagship in London, continues to drive momentum. 'With growing demand for our on-trend products, six new stores are planned for the remainder of 2025, with further expansion already planned for 2026,' Scott said. Looking ahead, the company noted that its current total sales for the first 21 weeks of the current financial year are up 10.5 percent year-on-year and are 'tracking slightly ahead of plan.' Gross margin is also ahead of both last year and plan, while retail sales are up 6 percent so far this quarter, driven by the company's exclusive brands. Pujolar added: 'With a clear plan in place, we are well positioned for the next phase of our journey, including international expansion in the medium term.' Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio
Daily Mail
07-07-2025
- Business
- Daily Mail
Sales surge at Footasylum as young shoppers defy economic conditions to splash out on top brands
Sales and profits surged at Footasylum as younger shoppers turned to top brands despite a 'challenging' economic environment. The Rochdale-based shoes and clothing chain reported a record financial performance in the year to the end of January. Revenues totalled £350million over the period, about 9 per cent higher than the previous year. Profit nearly tripled from £6million last year to £17.2million over the latest financial year, the firm said. Footasylum claimed this was driven by both store and online sales increasing, while sales of its exclusive brands – items which are only available through the retailer – doubled year-on-year. Footasylum's key customer base are Generation Z shoppers, who the retailer has said typically prioritise spending on fashion, embrace new trends, and regularly shop through digital channels.
The Independent
07-07-2025
- Business
- The Independent
Footasylum hails ‘standout' year as sales and profits leap higher
Shoe retailer Footasylum has revealed its annual sales and profits leapt higher as younger shoppers turn to top brands despite a 'challenging' economic environment. The Rochdale-based shoes and clothing chain, which has around 60 stores in the UK, reported a record financial performance in the year to the end of January. Revenues totalled £350 million over the period, about 9% higher than the previous year. Its pre-tax profit nearly tripled from £6 million last year to £17.2 million over the latest financial year. Footasylum said this was driven by both store and online sales increasing, while sales of its exclusive brands – items which are only available through the retailer – doubled year-on-year. Over recent months, since the new financial year began, exclusive brand sales have surged 17%, the firm said. Footasylum's key customer base are Generation Z shoppers, who the retailer has said typically prioritise spending on fashion, embrace new trends, and regularly shop through digital channels. Total sales were up more than a 10th since the start of February, with junior and nursery ranges selling particularly well. The retailer also said its partnerships with global brands such as Nike Adidas and New Balance were going from 'strength to strength'. David Pujolar, Footasylum's chief executive, hailed a 'standout performance' with stronger trading continuing into the new financial year. 'Our brand recognition, particularly among our core 16–24 demographic, continues to grow, supported by our distinctive content and social strategy,' he said. 'With a strong pipeline of new material to inspire, engage and entertain, we're continuing to grow an audience that now numbers in the millions.' 'While the wider macroeconomic environment remains challenging, demand for our unique offer remains strong,' he added. Footasylum opened five new stores last year and expanded two existing shops, while it plans to open another six this year. The company, which is owned by private equity firm Aurelius, recently secured a £35 million credit facility which is set to contribute to its investment in growth.
