Shoe Zone upgrades FY profit guidance on strong demand

Shoe Zone upgraded its full-year profit guidance on Wednesday as it highlighted strong demand.

The shoe retailer said that since its update in late July, trading has continued to exceed expectations thanks to ongoing strong demand for summer and back to school products in August.

It also continues to benefit from the margin improvements outlined in recent trading updates.

As a result, Shoe Zone now expects adjusted pre-tax profit for the financial year ending 2 October 2022 to be not less than £10.5m. This is up from previous guidance of not less than £9.5m.

At 0845 BST, the shares were up 12% at 63p.