The boss of footwear retailer Clarks, known for its back-to-school shoes, on Tuesday launched a property review into the firm’s 550-strong shops empire.
Mike Shearwood, who was hired in September to steer the High Street chain following a tough year, has appointed agent Harper Dennis Hobbs to conduct the study.
Real-estate reviews typically look at negotiating rent reductions, store sizes and whether stores should be closed and opened elsewhere.
Harper Dennis Hobbs will contact all landlords “to share with them the direction the company is taking”.
Shearwood said the firm is working “to ensure that we have the best possible property portfolio that meets our status as a desired retailer that delivers profit in locations where others can’t”.
Clarks saw pre-tax profits fall to £35 million in the year to January 31 2016 from £98.8 million the previous year.
The company, which sells more than 50 million pairs of shoes every year, was founded in 1825 by brothers Cyrus and James Clark in Somerset.
