UK's Shoe Zone plummets on weak profit forecast

Shoe Zone

02/07/2024 08:28

** Shares of footwear retailer Shoe Zone  SHOE.L  down 18%
at 125p
    ** Sees FY adj profit before tax to be not less than 10
million pound ($12.63 million)
    ** Continues to see cost pressures for container prices due
to reduction in supply of shipping vessels and continuation of
reroute away from the Suez Canal
    ** Co experienced weaker than expected Spring Summer sales
from April to June, due to unseasonal weather conditions
    ** SHOE stock fell ~48% YTD



($1 = 0.7919 pounds)

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