Shoe Zone lifts full-year profit outlook

Shoe Zone rallied on Friday as it lifted its full-year profit outlook following recent strong trading.

In a brief update, the company said that since its interim results on 16 May, its performance has exceeded expectations "due to particularly strong recent trading through May and early June".

A combination of strong early demand for summer products and lower container rates contributed to improved margins, Shoe Zone said.

As a result, it now expects adjusted pre-tax profit of "not less than" £10.5m for the year ending 2 October 2023.

At 1125 BST, the shares were ahead 12% at 236p.