Shoe Zone raises profit outlook

Shoe Zone now expects adjusted profit before tax for the financial year ending October 2, 2023 to be not less than 13.5 million pounds.

Post its last trading update on June 9, 2023, the company said that it witnessed an exceptional month of sales with trading significantly exceeding management expectations due to continued strong demand with volumes up double digit on last year.

The company also experienced margin improvements due to the lower container rates and favourable foreign exchange rates with management expecting these improved margins to continue for the rest of the financial year.

Shoe Zone earlier expected to achieve adjusted profit before tax to be not less than 10.5 million pounds.