Torfs increases profit nearly 50 % | RetailDetail

Torfs increases profit nearly 50 %

Torfs increases profit nearly 50 %

Shoe chain Torfs has managed to end 2013 on a positive note: both its profit and its turnover grew and over the last 10 years, its turnover increased tenfold.

Profit grew by 55 %

 

Torfs managed a 114 million euro turnover in 2013, a 6 % growth compared to the year before. Even more impressive are its profit numbers as its operating income grew 55 % to 5.8 million euro, while its net profit grew 47 % to 4.7 million euro.

 

Torfs is not hampered by the crisis and its managing director Wouter Torfs believes its well-known name has helped. "They know Torfs offers quality and that is why customers prefer not to take any chances and stick with shoes they know at Torfs", he told Made in Antwerpen.

 

Wouter Torfs took charge of the family business in 1995 and has expanded the chain from 26 to 75 stores. Its turnover reached 10 million euro at the time and has now expanded tenfold. 

 

More large sizes

 

Torfs has also announced that it will expand its product range of large sizes. Research has shown that the average shoe size has grown 2 sizes since 1970 and that is why the shoe chain will follow the trend. Men will be able to choose more up until size 50, while women will be able to choose up until size 43.

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