Peter Foot Takes Over as Shoe Zone’s Finance Director Amid Challenging Times

  • Peter Foot appointed as finance director of Shoe Zone
  • Foot to replace Jonathan Fearn effective July 6th
  • Experience from over 25 years in footwear sector
  • 10 stores not opening post-lockdown, staff redundancies
  • Company reported £2.5m loss for 26 weeks to April 2020

Shoe Zone has appointed Peter Foot as its new finance director, effective July 6th. He will replace Jonathan Fearn who resigned and will be replaced subject to due diligence checks. CEO Anthony Smith praised Foot’s experience in the footwear sector. The company also announced that 20 stores won’t reopen post-lockdown, leading to staff redundancies. Shoe Zone reported a £2.5m loss for the period ending April 2020, down from a profit of £1m in the same period last year and a revenue drop to £68.9m.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Peter Foot’s appointment as finance director of Shoe Zone, the resignation of Jonathan Fearn, and the company’s financial performance. It also mentions the closure of some stores and redundancies due to the impact of COVID-19 on the business.
Noise Level: 4
Noise Justification: The article provides relevant information about a company’s financial situation and personnel changes but lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Shoe Zone’s stock price and other footwear retailers
Financial Rating Justification: The article discusses financial results, appointments of finance director, store closures, redundancies, and financial losses which are all relevant to the company’s financial performance. This information can impact Shoe Zone’s stock price and potentially the overall footwear retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text. The company reported a loss and some stores will not open post-lockdown, but it’s not considered an extreme event.

Reported publicly: www.retailsector.co.uk