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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Shoe Zone Plc | SHOE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 165.00 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 165.00 | 165.00 | 165.00 | 165.00 | 165.00 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/05/2024 | Interim | GBP | 0.025 | 11/07/2024 | 12/07/2024 | 14/08/2024 |
| 09/01/2024 | Final | GBP | 0.089 | 14/03/2024 | 15/03/2024 | 02/04/2024 |
| 16/05/2023 | Interim | GBP | 0.025 | 13/07/2023 | 14/07/2023 | 16/08/2023 |
| 10/01/2023 | Final | GBP | 0.033 | 22/03/2023 | 22/03/2023 | |
| 10/01/2023 | Final | GBP | 0.033 | 16/03/2023 | 17/03/2023 | 29/03/2023 |
| 25/10/2022 | Interim | GBP | 0.03 | 03/11/2022 | 04/11/2022 | 21/12/2022 |
| 17/05/2022 | Interim | GBP | 0.025 | 14/07/2022 | 15/07/2022 | 17/08/2022 |
| 21/05/2019 | Interim | GBP | 0.035 | 18/07/2019 | 19/07/2019 | 14/08/2019 |
| Top Posts |
|---|
Posted at 18/6/2024 13:02 by jsg123 Is it fair to say that given the below taken from HY, that a special dividend may not be forthcoming this year ?They also said they will be spending 10 mill p/a for the next 2 years on capital growth. The Company ended the Period with a net cash balance of £4.1m (2023 FY: £16.4m). However, we generated a strong operating cash flow of £13.4m compared to £12.0m last year, and the 68% decrease in net cash is driven by dividend payments of £6.9m, increased capex of £5.3m and higher stock levels of £2.6m. |
Posted at 13/6/2024 10:54 by fegger Introduced good new initiative to compete with other stores -free next day delivery on all orders.Free return to stores. £2.50 charge for return to head office. Very competitive rates in the cheap shoe end of the market. |
Posted at 30/5/2024 13:20 by petersinthemarket SHOE has been paying regular dividends, including specials.Plenty of cash to keep doing that. School holidays and next autumn term soon, so more sales. The proposed reconstruction will markedly reduce running costs. I remember bringing up my two boys. Two pairs each per annum of school shoes, trainers, football boots, walking boots. Nightmare expenses with growing youngsters. But really good news for SHOE I will be cautiously adding, bottom feeding. pete |
Posted at 30/5/2024 13:17 by petersinthemarket Reminder from my notes:4 March 2024 STimes: tipped SHOE, arguing that the business was set to continue benefitting from the cost of living crisis. Sales at the discount chain's 329 shops had jumped by 39% over the preceding 2yrs. Reviews for its footwear on Amazon.com were glowing, she said. SHOE was also tinkering with its structure, shifting from small high street shops to bigger sites at retail parks and digital sales. The company had also cut the total number of stores. It was highly cash-generative with £16.4m of net cash. CEO Anthony Smith and his brother own 58% of the shares so the management have a clear interest in seeing shares rise. The company's free-float is only 32%. As the Liberum analyst Wayne Brown wrote this week: Consumers are actively seeking value for money, spending less per transaction and spending more on lower-priced products. SHOE will benefit: buy. |
Posted at 30/5/2024 13:16 by petersinthemarket Reminder from my notes:12 January 2024 InvestorsChronicle: Shoe Zone has increased sales despite closing stores: The company is shifting focus from the less-profitable high street to out-of-town retail parks. The budget footwear group has managed to increase sales while closing stores, an unlikely combination in the retail sector. It ended FY 2023 trading out of 37 fewer locations, yet bricks-and-mortar Rev was up 4% to nearly £135m. An oversupply of commercial property is proving advantageous for the company, with management hoping to significantly improve its pf in the medium term. The company managed to negotiate annualised rent reductions of £700k on 53 store renewals amounting to an average rent cut of 31%. These conditions in the property market come as the group is carrying out a mass scale reformatting of its shops. By the end of 2026 it aims to have shuttered all of its original locations. In their place will be either big box or hybrid alternatives. The former are designed to be based in larger, out-of-town premises, as opposed to high street locations. Hybrid stores will sell a mixture of cheaper, own-brand footwear and expensive branded alternatives. Management said it ultimately anticipates trading from a similar level of square footage, albeit from a smaller number of locations. The group is also building its digital offering, with online Rev increasing 17% to £31m, due largely to strong sales on Amazon. In the next 12mth it also plans to introduce Apple and Google payment options and a new returns portal, as well as launching a mobile app. Shareholders have been rewarded with a total annual Div of 11.4p, as well as a special Div of 6p. The effective yield for FY 2023 is therefore 7.6%. With next year’s forward PER sitting at just 9.3x, we think Shoe Zone looks like an increasingly attractive prospect, particularly given the increased consumer focus on value pricing. BUY. [sp=247p] |
Posted at 21/5/2024 07:30 by bountyhunter Total revenues increased by 1.5% having traded out of 27 fewer stores compared to 12 months ago, with digital revenue increasing by 19.6%. The performance further demonstrates the resilience of our business and the success of our ongoing strategy.Despite a larger than anticipated increase to the national living wage and middle east disruption. Dividend maintained: The Board proposes an interim dividend of 2.5p per share, which will become payable on 14 August 2024 to those shareholders on the Company's register as at the close of business on the record date of 12 July 2024. The ex-dividend date will be 11 July 2024. EPS up at 5.6p/share from 3.1p/share. |
Posted at 03/3/2024 16:58 by bountyhunter Interesting.Re the divi, from dividend max: The next Shoe Zone Plc dividend will go ex in 11 days for 8.9p and will be paid on 2nd April. The dividend cover is approximately 1.7 There's also a special of 6p to add to that! (same dates). |
Posted at 31/1/2024 07:37 by bountyhunter Shoe Zone is also pleased to announce its provisional dividend timetable, subject to the successful passing of certain resolutions at its AGM:Ex-Dividend Date: 14 March 2024 Record Date: 15 March 2024 Payment Date: 2 April 2024 Dividend payments will include, as announced in the Final Results on 9 January 2024, both a final dividend of 8.9 pence per share and a special dividend of 6.0 pence per share |
Posted at 09/1/2024 10:39 by davebowler Shoe Zone plc is a nomad and broker client of ZeusFY23 Results FY23 performance is in line with estimates and reflects solid trading and strong cost control. FY23E revenue +6.1% YOY and Adj. PBT +48% to £16.5m, almost double the £8.5m FY23E Adj. PBT we forecast a year ago following 4 consecutive upgrades over 2023. Net cash of £16.4m is after a total of £26.7m in capex, dividends and share buybacks, demonstrating the strongly cash generative nature of the Group. This is reflected in the announcement of a 6.0p special dividend, taking full year DPS to 17.4p, equating to a 7.7% yield. Trading at just 0.5x EV/Sales, 4.3x EV/EBITDA on an ex-cash PE of 7.9x, Shoe Zone remains a compelling buy. ¨ FY23 Results: FY23 performance was well flagged in a year end trading statement issued 17 October. Revenue of £165.7m is +6.1% YOY, with growth across Stores, +3.9% to £134.8m (FY22: £129.8m) and Digital, +17.0% to £30.9m (FY22: £26.4m). Product margin improved 110bps to 62.3% (FY22: 61.2%), benefitting from the reduction in container prices realised in the second half of the year. Adj. PBT of £16.5m is +47.6% YOY (FY22: £11.2m), coming in at almost double our original £8.5m forecast set in January 2023. Adj. EPS of 27.6p +53.1%, benefitting from the share buyback. Year-end net cash of £16.4m is after investing £11.4m in capital expenditure, £7.1m in share buybacks and £8.2m in dividend distributions paid during the year, reflecting the highly cash generative nature of the Group’s operating model. ¨ Significant shareholder returns: Shoe Zone has proposed a final dividend of 8.9p, 11% above our 8.0p estimate, as well as a special dividend of 6.0p. This gives a total FY23 dividend of 17.4p (65% above our FY23 DPS estimate of 10.5p), an effective yield of 7.7% at last night’s closing price. This is in addition to £7.1m in share buybacks executed in FY23. ¨ Continued progress on property transformation: Shoe Zone ended the period with 323 stores, having closed 72 and opened 35 new stores during the year. Its property refit and relocation programme will see total stores reduce to c.300 sites (targeting 100 Big Box sites, 200 Hybrid sites) but with average store sizes increasing and retail sq. footage remaining stable. Larger format stores improve productivity and increase product range through third party brands. The Group negotiates all property terms in house. Average lease length of 2.2 years means it has significant flexibility in its store footprint. Property supply continues to outstrip demand delivering material rent reductions; the Group achieved rent reductions on 53 store renewals totalling £0.7m in the year, an annualised saving of 31%. ¨ Forecasts: Our FY24E forecasts are unchanged, forecast net cash moves lower due to the announced 6.0p special dividend which will be paid during FY24E. We introduce FY25E estimates, based on what we believe to be conservative assumptions. FY25E revenue of £174.6m implies conservative growth of 3.3%, whilst FY25E adj. PBT of £14.8m reflects the impact of meaningful cost increases in National Living Wage and energy expenses over FY24E and FY25E. See exhibits 5 & 6 for more detail. ¨ Investment case: Shoe Zone’s resilient FY23 performance reflects the strength of its market position as a value retailer in the relatively non-discretionary category of footwear as well as strong cost control, driving material improvement in profitability. Its valuation continues to appear undemanding at FY24E EV/sales of 0.5x, EV/EBITDA of 4.3x, ex-cash PE of 7.9x and prospective yield of 4.4%. Based on what we believe are conservative growth and cost assumptions, it remains a compelling buy at these levels. |
Posted at 15/9/2022 11:18 by someuwin Zeus note out Today...Shoe Zone plc SHOE LN – General Retail Strides ahead Our recent site visit has reaffirmed our conviction that SHOE is one of the most resilient and attractive consumer stocks on the market. * Resilient market position: As a leading value footwear retailer, we believe SHOE is well positioned to capture share as consumers seek affordable alternatives in response to ongoing inflationary pressures. Several high street competitors have exited the market (Arcadia Group, Debenhams) with Tesco recently withdrawing part of its footwear offer further strengthening the Group’s market position. * Property transformation will drive productivity: SHOE is in the process of migrating its store estate from its legacy network of small high street stores into new, larger-format stores including ‘Hybrid’ stores located in town centres but offering c.2.0x the space of a typical legacy store, and out of town ‘Big Box’ stores located on retail parks (2.5x larger). Store transformation should improve productivity and drive contribution margin accretion. The Group’s Leicester head office and warehouse is also well invested, and we believe capable of supporting revenues of up to £250m with minimal additional investment required. * Low product risk, robust supply chain: The Group’s core Shoe Zone product range of 300 styles across men’s, women’s, and children’s is focused on timeless styles in popular colourways, with ranges ordered in high volume (typically 15,000 pairs per style) and able to be carried over from season to season. Categories such as school shoes, safety footwear and slippers provide a degree of dependable demand. This means there is minimal inventory risk and low levels of sale mark down activity, reflected in its resilient product margin at 61.4% (FY21: 61.3%). * Expanding product range & demographic reach: Larger format stores enable the Group to extend in-store product range from the core 300 Shoe Zone styles with additional brands (475 to 600 styles in Hybrid stores, 675 styles in Big Box stores), adding higher priced products and appealing to a broader consumer demographic. Its shoehub ecommerce platform extends this even further, with >3,000 styles across more than 135 brands. * Complementary hybrid model with low return rates: SHOE’s ecommerce platform shoehub has grown rapidly through COVID, contributing c.15% of FY22 revenue. Unlike other ecommerce businesses product returns rates are incredibly low at 11.3% (having normalised from COVID lows of 8.4%) and the Group’s hybrid model means reverse logistics are exceptionally efficient, with 70% of online returns transacted in store with nominal incremental cost to the business. * Debt free, cash generative: SHOE is debt free, with £13.9m net cash on 2 April 2022. It offers an attractive dividend yield of 3.7% based on a modest 40% pay-out ratio alongside its current share buyback programme and scope for future special dividends to distribute excess. * Strong management team: It is impossible to be anything other than impressed by management’s detailed and in-depth knowledge of all parts of the business reflecting longstanding relationships and meaningful personal investment. * Compelling valuation: Despite a marked recovery in share price from COVID lows, SHOE trades at just 10.8x FY22E PE. Current trading momentum, combined with self-driven store transformation suggests strong upside to trading over the medium term. A robust cash-backed balance sheet underpins an attractive dividend yield, supplemented by share buybacks and scope for future special dividends to return excess cash to shareholders. |
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