Shoe Zone updates outlook as trading exceeds expectation

British footwear retailer Shoe Zone has adjusted its full-year outlook after experiencing stronger-than-anticipated trading in recent months.

In a brief statement Friday, the company said since publishing its interim results on May 16, “trading has exceeded expectations due to particularly strong recent trading through May and early June”.

The retailer contributed the trading to a “strong early demand for summer products and lower container rates contributing to improved margins”.

As a result of the trading, the company now expects an adjusted pre-tax profit for the year ending October 2 2023 to be no less than 10.5 million pounds.

In its most recent full-year results published in April, Shoe Zone made an adjusted profit before tax of 2.5 million pounds, while revenue increased 7.9 percent to 75.4 million pounds.