FASHION RETAIL NEWS UK
Shoe Zone raises full year profit forecast
1 November, 2021 | by Angela Beevers
Shoe Zone has raised its full year profit forecast to between £9 million and £10 million after it experienced better than expected trading, a reduction in expenses and favourable exchange rates.
In a trading update, the footwear retailer said it had concluded that it will not be required to recognise approximately £1.5 million of one-off additional pension contributions within its income statement for the 52 weeks to 2 October. It has also benefited from favourable foreign exchange rates, particularly against the dollar.
The company is still undergoing its audit review process and expects to announce final audited full year figures in January 2022.
