Pre-close Trading Update

RNS Number : 9246U

Shoe Zone PLC

22 October 2014

 



22^nd October 2014

Shoe Zone PLC

Pre-close Trading Update

Shoe Zone PLC ("Shoe Zone" or the "Group"), the UK's largest value footwear retailer, provides the following update on trading for the 52 weeks ended 4^th October 2014, prior to entering its close period.

Revenues for the year are expected to be approximately £172.5 million (2013: £193.9 million), in line with previous guidance, reflecting 17 new openings and the planned closures of a number of temporary stores.  The Board expects pre-tax profit for the period to be in line with market expectations, however the net cash position will be significantly ahead of market expectations at approximately £8.5 million.

There have been no significant unexpected changes in the financial position of the Group since the publication of the Interim Report for the half-year ended 5^th April 2014.

The Board expects to announce final results for the year on Wednesday 14^th January 2015.

Anthony Smith, Chief Executive Officer of Shoe Zone, said:

"We are delighted to report our profit will be in line with expectations having had the best August in the Group's history followed by a slow September, with a late start to the boot season.  I am pleased to report that the boot season is now in full swing and the first two weeks of the new financial year have been good.

On behalf of the Board, I would like to thank all of our staff for their continued hard work and for ensuring a successful transition from a private to a public company."

For further information please call:

Shoe Zone plc	Tel: [phone]
Anthony Smith (CEO)
Charles Smith (COO) Nick Davis (CFO)
Numis Securities Limited (Nominated Adviser & Broker)	Tel: [phone]
Oliver Cardigan
Mark Lander
Huw Jeremy
FTI Consulting (Financial PR)	Tel: [phone]
Jonathon Brill
Alex Beagley Eleanor Purdon

 

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