(Sharecast News) – Shoe Zone lifted its full-year profit forecast on Wednesday following an “exceptional” month of sales since its last update on 9 June.
“Trading has significantly exceeded management expectations due to continued strong demand with volumes up double digit on last year, despite no price increases on our core ranges,” it said.
In addition, the retailer pointed to margin improvements due to lower container rates and favourable foreign exchange rates, with management expecting these improved margins to continue for the rest of the financial year.
As a result, it now expects adjusted pre-tax profit for the year ending 2 October 2023 to be “not less than” £13.5m, up from guidance of not less than £10.5m in June.
