Shoe Zone raises pre-tax profit forecast

Shoe Zone has announced that the company expects reported pre-tax profit to be in the range of 9 million pounds to 10 million pounds for the 52 weeks to October 2, 2021.

The company said in a release that underlying trading has been better than expected and alongside the ongoing year-end review process, the company has concluded that it will not be required to recognise approximately 1.5 million pounds of one off additional pension contributions within its income statement. This adjustment has led to an increase in expected profit before tax for the full year.

The company has also benefited from favourable foreign exchange rates, particularly versus the dollar, which adds a further revaluation benefit of approximately 0.4 million pounds from the previous forecast.