Shoe Zone lifts full-year profit outlook
Shoe Zone
220.00p
16:50 29/09/23
0.00%
0.00p
Shoe Zone rallied on Friday as it lifted its full-year profit outlook following recent strong trading.
FTSE AIM All-Share
726.18
17:14 29/09/23
n/a
n/a
General Retailers
3,508.53
17:14 29/09/23
-0.30%
-10.52
In a brief update, the company said that since its interim results on 16 May, its performance has exceeded expectations "due to particularly strong recent trading through May and early June".
A combination of strong early demand for summer products and lower container rates contributed to improved margins, Shoe Zone said.
As a result, it now expects adjusted pre-tax profit of "not less than" £10.5m for the year ending 2 October 2023.
At 1125 BST, the shares were ahead 12% at 236p.