Shoe Zone sees full-year loss amid "challenging" trade, weak consumer

(Alliance News) - Shoe Zone PLC on Monday cited weak consumer confidence, lower footfall and higher costs as it reported a widened half-year loss.

The Leicester, England-based footwear retailer said its pretax loss widened to GBP5.3 million in the 26 weeks to March 28 from GBP2.3 million a year prior, while revenue fell 12% to GBP62.9 million from GBP71.5 million.

Store revenue declined 14% to GBP45.8 million with Digital sales dropping 6.0% to GBP17.1 million.

Performance reflects a "very challenging trading environment" against the continuing backdrop of "weak consumer confidence and macro/global economic volatility," Shoe Zone said.

These factors led to lower footfall, less discretionary spend and higher costs.

The firm said its relocation and refit programme continues, albeit at a slower pace, and is expected to complete by the end of 2027.

Shoe Zone reiterated recently lowered guidance for full-year adjusted pretax loss of between GBP1.0 million and GBP2.0 million compared to a GBP2.4 million profit the year prior.

It proposed no interim dividend, unchanged from a year ago.

Shares in Shoe Zone fell 8.4% to 41.20 pence each in London on Monday.

By Jeremy Cutler, Alliance News reporter

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