Register to get 2 free articles
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Shoezone has announced that it expects its profit for the year ending 2 October 2023 to be no less than £13.5m after strong June sales.
The company stated that sales exceeded expectations due to “continued strong demand with volumes up double digits on last year”, despite no price increases on its core ranges.
It also stated that it saw margin improvements due to the “lower container rates and favourable foreign exchange rates”.
This news comes after the company raised its profit guidance for the year last month to no less than £10.5 following strong trading in May.
In that update the company stated the increase was a “combination of strong early demand for summer products and lower container rates contributing to improved margins”.
This all follows a modest first half of the year where the company posted a profit before tax of £1.5m for the 26 weeks to 1 April 2023, down from £3.1m the year previous.
However, in that update the company’s revenue increased to £75.4m up from £69.9m in the previous year.
