Shoe Zone lifts full-year profit outlook
Shoe Zone
191.50p
16:49 26/04/24
-4.25%
-8.50p
Shoe Zone rallied on Friday as it lifted its full-year profit outlook following recent strong trading.
FTSE AIM All-Share
755.28
17:14 26/04/24
n/a
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General Retailers
3,910.25
16:59 26/04/24
-0.13%
-5.27
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.