UK's Shoe Zone slumps to over 3-year low on profit warning
18/12/2024 09:07
** Shares of Shoe Zone Plc SHOE.L slump as much as 49.5%
to 70p, their lowest since October 2021
** The discount footwear retailer forecasts FY25 adjusted
pre-tax profit to be at least 5 mln pounds ($6.3 mln), down from
previous expectations of 10 mln pounds
* SHOE says it is not proposing to pay a final dividend for
the financial year ended Sept. 28, 2024
* The Leicester-headquartered firm says it has experienced
very challenging trading conditions in the first two months of
the current financial year and in the first half of December,
due to weakening of consumer confidence and non-seasonal weather
** Stock currently down 38.6%, taking YTD losses to ~64%
($1 = 0.7883 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))