Shoe Zone halves full year profit guidance
Shoe Zone has halved its full year profit guidance after experiencing challenging trading conditions in June and July.
In a trading statement, the footwear retailer attributed this to a further weakening in consumer confidence following the Governments’ October 2024 budget announcement. It also highlighted how discretionary spend has been impacted by inflation, interest rates and higher savings rates, which has led to a decrease in footfall and a reduction in revenue and profit.
As a result, Shoe Zone now expects adjusted pre-tax profit for the year ended 27 September 2025 to be approximately £2.5 million compared to a previous guidance of £5 million.
The retailer said: “Management remain confident with the underlying strategy, with the 200th new format store opening this month.
“The company remains debt free and confident in our cash management, with cash levels currently higher than the same period last year.”
