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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% | 105.00 | 07:47:01 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 105.00 | 105.00 | 105.00 | 105.00 | 105.00 |
| 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 |
| Top Posts |
|---|
Posted at 21/1/2025 22:26 by bareknee Though, for various reasons, not all related to SHOE, I'm not tempted to buy back in, if they can maintain profits at the levels just reported then there's plainly value here at a share price of ~100p.I don't think that's a big if. But, longer term, they need to continue to grow the digital side of the business if they want to get any meaningful growth in the business. Given they basically say their USP on the digital side of the business is being able to return goods to stores, that's probably easier said than done. If they're successful on the digital side, then, sooner or later, more shops will close and it'll be further and further, distance wise, for customers to travel if they want to return goods to a store. At some point, unless SHOE can come up with a cunning plan, people will just order online from where ever is cheapest and has free returns. |
Posted at 22/12/2024 16:49 by premium beeks I've never been in shoezone. My family never have, I don't know anyone who has used them. There are too many alternatives now - even sports direct have a decent range of school shoes in at ridiculously cheap prices, and are in reach of most of the cohort that would use shoe. I made a mistake here earlier in the year, sold out at a small loss after the cyber event and took off my watch list. The taxation changes and the fact I've not seen more than a person or two in a shop that I have passed in my travel this year - Dewsbury, Selby, Doncaster, Wakefield, etc, etc tells me it could even be over for them. |
Posted at 20/12/2024 21:34 by thecroots No worries Julietzed. I do like CARD too. When i loaded up on SHOE in late 2020, i also looked at CARD as they were both the same price!!The thing is tho, one of the directors has a 29.7% holding in SHOE, so cannot reach 30% without officially bidding for the company. May buy back in, buy wont be till after January 21st. Your link to the ITV news link states that they had annual sales to the UK last year of £1.51b. Even if you allow 20% for footwear that's still double Shoezone sales so it will have some effect. It also said this: "From more or less a standing start in 2020, Shein has overtaken BooHoo, H&M and John Lewis to become the UK’s 11th most popular clothing and footwear retailer. GlobalData forecasts Shein will have risen to sixth place by 2027, overtaking Zara, Asda and TK Max albeit still behind the top three of Next, Primark and Marks and Spencer." I don't understand how you can say they aren't competition for shoezone. |
Posted at 20/12/2024 15:45 by thecroots JulietzedNo competition? SHein and Temu are MASSIVE competition for SHOE Google Shein shoes and you will see loads of shoes for a tenner plus £3 delivery. The above link takes you to their shoes. If you spend over £19, you get 35% off. Thats way cheaper than SHOE. Remember,SHOE don't advertise the website - Shein does. Google TEMU and look at the shoes tab. Theres tonnes on there at cheap prices. I made a lot of money on these after the pandemic, unfortunately missing out on the rise to 290p but bought back this year at an average of 150p odd so i've taken a hit recently. I've used the loss to offset against my gains so it's not all bad. Normally, I would just ride it out but theres too many red flags for me: 1) - I think the cyber attack has affected online sales. Probably instigated by one of the chinese retailers.! 2) - Shein and Temu are huge competition for them. Shein is trending well at the minute and is popular. 3)- The new budget changes will make a big difference in payroll costs. 4) - Something doesn't seem right with one of the brothers stepping down form the board and both brothers transferring all their holdings out of their investment company 5) - The constant "not less than" updates. "not less than 5 million" is certainly a lot less than "not less than £13.9m" 6) - The update on 21st January scares me and i think the update this week is priming up for another profit warning. If there is, the market will seriously punish SHOE more than than this week. 7) Russ Mould's comments must have some substance. |
Posted at 19/12/2024 13:02 by masurenguy Shoe Zone closures: chain blames budget for decision to close storesThe struggling footwear retailer Shoe Zone has blamed significant extra costs from the recent budget measures for its decision to close a number of stores as it sounded the alarm over profits. The retail chain said the increase in employers’ national insurance contributions and the minimum wage meant the stores had “now become unviable”. Shoe Zone said it was facing “very challenging trading conditions” with shoppers cutting spending and unseasonable weather, as well as a further weakening in consumer confidence since Rachel Reeves’s budget in October. “Consumer confidence has weakened further following the government’s budget in October 2024, and as a result of this budget, the company will also incur significant additional costs due to the increases in national insurance and the national living wage,” the company said. “These additional costs have resulted in the planned closure of a number of stores that have now become unviable.” Earlier in the year the Leicester-based retailer warned that profits would be hit by an increase in shipping costs, with upward pressure on container prices thanks to rerouting away from the Red Sea and the Suez Canal. In October it lowered its guidance for the year to September 28, 2024, blaming poor summer weather for lower sales. It expected pre-tax profits to be not less than £9.6m, down from £16.2m in 2023. The group has already been closing loss-making stores over the past year, revealing in October that 26 sites had been shut on a net basis — 53 closed, less 27 opened — in the year to September 28. As well as shutting less profitable shops, it has also been revamping remaining high street stores and increasing its number of new larger sites based in locations such as retail parks. The company did not put a figure on how many more stores it was planning to close. Some analysts questioned the group’s decision to blame the budget for accelerating its closure plans, suggesting that demand for footwear should remain resilient as it is not a discretionary product. However, Zeus Capital said the retailer operated in a defensive sub-sector of the consumer market. Complete article: Seems like they are constantly blaming external factors - increase in shipping costs - poor summer weather - unseasonable autumn weather - the recent budget - weakening consumer confidence - for its woes. Shares are down 67% since March 24 (9 months ago) and are currently at a 3 year low. |
Posted at 18/12/2024 18:43 by grahamytrain Clarke's, M&S & Sketchers are hardly competition for Shoe Zone. Shoe Zone is very much budget retailer and have flourished in recent years due to the cost of living crisis in a similar way to Card Factory. Maybe christmas time isn't their best period as people make the effort to buy branded shoes for their christmas presents. Massive drop though. Maybe no dividend next year. |
Posted at 18/12/2024 15:57 by masurenguy I used to have a position here but fortunately sold out at just under £2 a couple of years ago. There is a lot of high street shoe shop competition from the likes of Deichmann, Clarks, Schuh, Moshulu, Rieker, Skechers, Treds, M & S and then there is J D Sports and Sports Direct with trainers. All of these brands have shops in my local provincial town plus some family owned retailers too. Last week I took a look at some of the specialist stores to see what traffic was like. Obviously it varied but Shoe Zone, with one of their Big Box units, was completely empty. I took that to be a rough negative anecdotal indicator which was sadly borne out by todays announcement. All of them will be impacted by the same higher staff costs next year but I'm still not tempted to bottom fish at Shoe Zone after todays sharp fall. |
Posted at 18/12/2024 09:14 by davebowler ZeusTrading Update Challenging trading conditions over recent months, combined with increased operating costs resulting from the Government’s budget has resulted in plans to close a number of stores that are no longer considered viable. These pressures are expected to materially impact performance, with FY25E Adj. PBT now guided to be not less than £5.0m, a 50% downgrade versus previous guidance of £10.0m. As a result, the Company is not proposing to pay a final dividend for FY24. FY24 results will be published on the 21st January 2025. Challenging trading conditions: Shoe Zone has warned that for FY25 year to date it has experienced very difficult trading conditions. Weaker consumer demand noted since the Government’s Budget, combined with unseasonal weather has impacted revenue. Higher operating costs, primarily related to increased employer NI Contributions and National Living Wage rates are not now expected to be mitigated through trading, meaning a number of stores are now considered unviable, and will be closed during the current year. This has resulted in a material downgrade to FY25E profit guidance; FY25E Adj. PBT is now expected to be not less than £5.0m, versus previous guidance of £10.0m. The Group has also announced, because of softer trading, it no longer plans to pay a final dividend for FY24. Forecasts: We revise our forecasts to reflect today’s updated guidance. FY24 forecasts for the 52 weeks ended 28 September 2024 are unchanged. FY25 forecasts are revised for latest guidance: Revenue of £159.4m is 5.0% below our previously published estimate of £167.8m. This is driven by softer revenue per store, reflecting the Group’s report of tough trading conditions along with weakening consumer confidence, as well as the impact of planned store closures in the period. Operating costs are increased versus previous estimates, reflecting additional costs of higher Employer National Insurance contributions and the increase in National Living Wage rates, which we no longer expect can be mitigated through trading, as well as additional costs associated with store closures. Lower sales and higher costs result in Adj. PBT of £5.0m, in line with latest guidance, a 50% cut to our previous estimate. We have removed our forecast dividends reflecting latest guidance that the company is not proposing to pay a final dividend for the financial year ended 28 September 2024. Valuation: At last night’s close price and based on our revised forecasts, Shoe Zone trades on an FY25E EV/EBITDAR of 2.8x and ex-cash PE of 15.9x. Investment case: Shoe Zone operates in a defensive subsector of the consumer market, in Zeus’ view, with its core product offer representing a staple-like, rather than a discretionary, purchase. The ongoing store transformation is delivering bigger, more profitable stores, with management executing a highly disciplined approach to store economics - as evidenced by the decision to close several stores no longer deemed viable during the current year. Despite a much more cautious outlook for FY25E, Shoe Zone does remain profitable and cash generative, with zero financial debt on its balance sheet. The decision to withdraw FY24E final dividend is highly prudent in our view, with Shoe Zone having a track record of restoring shareholder distributions as soon as trading performance allows. FY24 results will be published on the 21st January 2025. |
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 10:18 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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