Shoe Zone Share Discussion Threads

[bountyhunter] 10/11/2023 17:17

Walked up nicely today ;)
Would be good to see a breakout above 250.

[bountyhunter] 06/11/2023 14:13

A while to wait...

9th January 2024
Full Year Final Results (2022/2023)

[edmundshaw] 18/10/2023 13:57

Dividend yield at 3.67% is likely to be a pretty poor prediction in my view, and the PE looks out of date.

Total dividend last year was 14p, including the special, and I would expect a special this year given the outstanding trading. Specials for SHOE are quite frequent - they were given in 2017 and 2019, then again after the COVID hiatus last year, all around the 8p mark.

At 230p, and on a £16m profit, the PER is actually a touch under 8 after accounting for the buyback cancellations.

[kalai1] 17/10/2023 14:44

Shoezone Holdings plc issued a FY trading update for the year ended 30th September 2023 this morning. Group revenue increased by 6.1% to £165.7m, store revenue was up to £134.8m (FY 2022: £129.8m) with digital revenue up to £30.9m (FY 2022: £26.4m). Product margin increased to c.62.1%, adjusted profit before tax is expected to be not less than £16.0m (FY 2022: £11.2m). The Group’s balance sheet remains solid with net cash at £16.4m. Valuation is average with forward PE ratio at 10.8x, dividend yield at 3.67% is also average. Share price has been drifting sideways through 2023 but remains in a longer run uptrend. The weakening macro environment is a cloud for consumer cyclicals more generally, but SHOE is a solid, if unexciting, Speciality Retailer and certainly worth monitoring...

...from WealthOracle

[bountyhunter] 17/10/2023 14:12

Not surprising at all given their strategy to expand existing stores and open newer larger stores at key sites. Their profits are up with this strategy. Closing down smaller less profitable stores in this context is not a bad thing as evidenced by today's results. Costs are down, margins up, revenue and profits up, container prices down, and there are less shares to pay dividends on thanks to the buybacks which is all good news in today's RNS.

"We continue our strategy to expand our Hybrid and Big Box formats via refits (15) and relocations and new stores (35)."

"Financial Summary

Revenue

In the 52 weeks to 30 September 2023 revenue was £165.7m (FY 2022: £156.2m). The 6.1% increase is due to strong second half trading particularly in peak summer and our key back to school period, and this is trading out of 37 fewer stores than last year.

Digital revenue was £30.9m (FY 2022: £26.4m) an increase of 17.0%. This represents 18.7% of Group revenue (FY 2022: 16.9%) and this continuing growth is validation of the ongoing investment in our digital platform.

Product margin

Product margin increased to c.62.1% (FY 2022: 61.3%). This is due to lower container prices part way through the year, and improved stock management due to less market volatility.

Profit before tax

Adjusted profit before tax is expected to be not less than £16.0m (FY 2022: £11.2m). "

[leicesterboy] 17/10/2023 13:16

It is surprising they are doing well, considering the reduction in number of stores. From feedback they are closing stores in Northern Ireland but this has not been publicised.

[edmundshaw] 17/10/2023 09:27

And, as an added bonus, EPS / share is of course another 7.5% higher after the share buybacks, so for the same company dividend expense there is a 7.5% higher return per share...

[niklol] 17/10/2023 09:16

Agree with you!

[edmundshaw] 17/10/2023 08:52

Well, that was unexpected! Good, though! :))

[blackhorse23] 17/10/2023 08:23

Out now & going to buy CURY

[ayl30] 17/10/2023 07:12

Results look good

[constable ken] 09/10/2023 19:20

Can't believe anything Starmzy says.

[death by donut] 09/10/2023 17:01

Could be Labour today saying going to introduce proper living wage and ban zero hours contracts from day one , should they win election ?DbD

[edmundshaw] 09/10/2023 15:19

Top up level for me. Looking forward to Shoezone's FY trading update on 31st.

[eeza] 09/10/2023 14:11

Especially hope.

[bountyhunter] 09/10/2023 14:06

Everything seems out of vogue right now!

[niklol] 09/10/2023 13:39

Hope that's the only reason

[niklol] 09/10/2023 13:39

Hope that's the only reason

[eeza] 09/10/2023 11:32

Retailers out of vogue.

Again.

[niklol] 09/10/2023 11:20

Why this share price drop lately?
Any ideas please?

[niklol] 25/9/2023 18:14

According to their financial calendar Oct 31st

[hsduk101] 25/9/2023 16:04

When's the next update likely due on this?

[niklol] 12/7/2023 12:56

Bountyhunter
Thanks for your reply

[18bt] 12/7/2023 09:25

Edmund - thanks for tabulating, it makes the point well

[edmundshaw] 12/7/2023 09:07

history of 2022 trading updates:
29.06: PBT not less than £8.5m
26.07: PBT not less than £9.5m
31.08: PBT not less than £10.5m
25.10: PBT not less than £11m for Y/E
Result for year: (adjusted) £11.2m

history of 2023 trading updates (so far):
09.06: PBT not less than £10.5m
12.07: PBT not less than £13.5m