Shoe Zone PLC Trading Update (7011F)
July 12 2023 - 2:00AM
UK Regulatory
TIDMSHOE
RNS Number : 7011F
Shoe Zone PLC
12 July 2023
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 is pleased to announce that since its last Trading
Update on 9 June 2023, the Company has achieved an exceptional
month of sales. Trading has significantly exceeded management
expectations due to continued strong demand with volumes up double
digit on last year, despite no price increases on our core
ranges.
Alongside exceptional trading, the Company has also experienced
margin improvements due to the lower container rates and favourable
foreign exchange rates with management expecting these improved
margins to continue for the rest of the financial year.
As a result, the Company now expects adjusted (1) profit before
tax for the financial year ending 2 October 2023 to be not less
than GBP13.5m.
(1) Adjusted to exclude the profit on the sale of freehold
property and foreign exchange revaluations.
For further information please call:
Shoe Zone PLC Tel: +44 (0) 116 222 3000
Anthony Smith (Chief Executive)
Terry Boot (Finance Director)
Zeus (Nominated Adviser and Broker) Tel: +44 (0) 203 829
5000
David Foreman, James Hornigold, Ed Beddows (Investment
Banking)
Dominic King (Corporate Broking)
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END
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