UK's Shoe Zone falls on lower FY24 profit outlook

Shoe Zone

22/10/2024 09:05

** Shares of British footwear retailer Shoe Zone  SHOE.L 
slip 9.4% to 145p
    ** Expects FY24 pre-tax profit to be not less than 9.6 mln
pounds ($12.4 mln) vs year-ago profit of 16.2 mln pounds
    ** Says UK's wet weather hit H2 sales, especially during
peak summer
    ** FY24 revenue dips 2.7% to 161.3 mln pounds year-on-year
    ** But, trade during key 'Back to School' period in August
and September positive and ahead of the same period last year
    ** SHOE down ~39% YTD

($1 = 0.7690 pounds)

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))