Trading Update

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 adjusted¹ profit before tax for the financial year ending 2 October 2023 to be not less than £13.5m.

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: [phone]

Anthony Smith (Chief Executive)

Terry Boot (Finance Director)    

Zeus (Nominated Adviser and Broker)                                                 Tel: [phone]

David Foreman, James Hornigold, Ed Beddows (Investment Banking)

Dominic King (Corporate Broking)

 

END