Overview
- Shoe Zone, which warned Wednesday, now expects an underlying pre-tax loss of £1 million to £2 million for the year to October 3.
- The stock fell sharply in morning trading, with reports showing intraday drops ranging from about 12% to 22%.
- The company cited weaker shopper confidence after the UK’s last two Budgets and higher container, transport and energy costs tied to Middle East tensions.
- Lower footfall and tighter household budgets have cut spending on non-essentials, which the chain says is hurting revenue and margins.
- The Leicester-based retailer runs about 259 stores with more than 2,000 staff and has closed sites after last year’s profit fall, while saying it has no debt and higher cash than at its year-end.