Shoe Zone halves profit expectations

Shoe Zone said for the first two months of its financial year and the first half of December, it had experienced "very challenging trading conditions, principally a weakening of consumer confidence and unseasonal weather, both of which have decreased revenue and profit."

The retailer added that consumer confidence had weakened further following the government's budget in October 2024, and as a result of this budget, it would "also incur significant additional costs due to the increases in National Insurance and the National Living Wage." Shoe Zone explained that the additional costs meant it planned to close a "number of stores that have now become unviable". All of the above would therefore have a significant impact on full year figures.

Shoe Zone proposed not paying a final dividend for the financial year ended 28 September 2024. It is set to provide a further trading update alongside the announcement of its full year 2024 annual results on 21 January 2025.