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Shoe Zone warns of £12m hit to revenue due to second lockdown at 'critical time of year'

By BFN News | 09:11 AM | Thursday 26 November, 2020


Footwear retailer Shoe Zone has said the second government-mandated national lockdown in England will have a negative impact on revenue and that as a result of the lockdown its final results for the period ended 5 October 2020 will be announced on 8 March 2021. The company said that the second lockdown in England 'at a critical time of year' will result in an anticipated reduction in revenue of at least £12m in this financial year, compared to the year ending 5 October 2020, 'even allowing for the good gains in online trade'. It added that the 'very late' lockdown in certain areas of Scotland and all of Northern Ireland has further exacerbated the impact on its pre-Christmas trading. Shoe Zone said: 'Notwithstanding this anticipated reduction in revenue, the group continues to have a material net cash balance sheet position, and the board continues to anticipate that the group has sufficient liquidity available to it, assuming there are no further material Covid-19 related restrictions mandated by the government over and above those already known.' At 9:11am: (LON:SHOE) Shoe Zone Plc share price was 0p at 39.5p Story provided by StockMarketWire.com

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