Shoe Zone Regulatory News (SHOE)

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Shoe Zone plc

("Shoe Zone" or the "Company")

Trading Update

Shoe Zone is pleased to announce that since the publication of its interim results in May, the business has been trading well and has also seen strong margin improvements and cost savings, in particular as a result of rent reductions and good supply chain management, which are expected to continue into Q4 of the Company's financial year for the 52 weeks to 2 October 2022 ("FY 2022").

As a result, the Company now expects adjusted1 profit before tax for FY 2022, to be not less than £8.5m.

1 Adjusted to exclude the profit on the sale of freehold property

For further information please call:

Shoe Zone PLC Tel: +44 (0) 116 222 3000

Anthony Smith (Chief Executive)

Terry Boot (Finance Director)

Zeus (Nominated Adviser and Broker) Tel: +44 (0) 203 829 5000

Daniel Harris, James Hornigold (Investment Banking)

Dominic King (Corporate Broking)

About Shoe Zone

Shoe Zone is a Town Centre, Retail Park and Digital footwear retailer, offering low price and high quality footwear for the whole family.

Shoe Zone operates from a portfolio of 388 stores and has approximately 2,850 employees across the UK.

The store portfolio consists of 308 original high street stores containing the core Shoe Zone product range and 35 hybrid high street stores and 45, Big Box, larger retail park stores which also have additional brands such as Skechers, Hush Puppies and Kickers.

Shoezone.com, combined with the store network, ensures a full multi-channel offering for great customer service.