Shoe Zone PLC Trading Update

RNS Number : 6878U

Shoe Zone PLC

02 July 2024

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Shoe Zone plc

("Shoe Zone" or the "Company")

Trading Update

Shoe Zone announces that, further to its AGM Statement released on 12 March 2024 it has continued to experience cost pressures associated with container prices due to a reduction in the supply of shipping vessels and the continuation of a reroute away from the Suez Canal. As a result, container prices have risen significantly over the last six months.

Alongside an increase in shipping costs, the Company has experienced weaker than expected Spring Summer sales from April to June, due to unseasonal weather conditions.

As a result, the Company now expects adjusted¹ profit before tax for the financial year ending 2 October 2024 to be not less than £10.0m.

¹ Adjusted to exclude foreign exchange revaluations.

 

For further information please call:

Shoe Zone PLC                                                                                      Tel: [phone]

Charles Smith (Chairman)

Terry Boot (Finance Director)    

 

Zeus (Nominated Adviser and Broker)                                                 Tel: [phone]

David Foreman, James Hornigold, Ed Beddows (Investment Banking)

Dominic King (Corporate Broking)

 

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