Shoe Zone expects to report loss for FY20

In a trading update for the 52-week period, Shoe Zone Plc said trading conditions in the second half of the financial year were challenging. The company said in a statement that store trading since reopening in June has been broadly 20 percent down year on year with digital trading broadly 100 percent up year on year. Shoe Zone generated revenues for the period of approximately 122.6 million pounds compared to 161.9 million pounds in 2019. As a result of the closure of its retail estate from March 23, 2020 to June 15, 2020 owing to the Covid-19 pandemic, Shoe Zone expects to report a loss before tax in the range of 10 million pounds to 12 million pounds.