Footwear retailer Shoe Zone slumps as half-year profit drops

Shoe Zone

16/05/2023 12:09

** Shares of footwear retailer Shoe Zone  SHOE.L  fall 17.7%
to 197.5p
    ** Shoe Zone headed for its worst day since April 2020
    ** SHOE's adj pretax profit drops to 2.5 mln pounds ($3.16
mln) for 26 weeks ended April 1 from 3.1 mln pounds a year ago
    ** Co blames inflationary pressure and consumer uncertainty
    ** SHOE proposes half-year interim dividend of 2.5p/shr, in
line with its last dividend
    ** SHOE hits its lowest level since Jan 9
    ** Including session's move, co's stock is down about 7% YTD
 
 
 ($1 = 0.7923 pounds)

 (Reporting by Muhammed Husain in Bengaluru)
 ((Muhammed.Husain@thomsonreuters.com;))