Shoe Zone has raised its profit expectations after an “exceptional month of sales.”
The company says trading has significantly exceeded management expectations due to continued strong demand with volumes up double digit on last year, despite no price increases on Shoe Zone’s core ranges.
The business 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 firm now expects adjusted profit before tax for the financial year ending 2 October 2023 to be not less than £13.5m.
