By Christian Moess Laursen
Shoe Zone, the U.K. footwear retailer, has announced its expectations of achieving a higher profit and revenue in fiscal 2023. This projection is attributed to a strong sales performance in the second half of the year.
Increased Adjusted Pretax Profit
Shoe Zone forecasts an adjusted pretax profit of at least £16.0 million ($16.9 million) for the 52 weeks ending on September 30th, which marks an increase from the £11.2 million recorded in fiscal 2022. The adjusted pretax profit figure excludes exceptional and other one-off items.
Revenue Growth Driven by Store and Digital Sales
The company also anticipates a 6.1% growth in revenue to reach £165.7 million, compared to the previous year. This growth is expected to be fueled by increasing store revenue, digital revenue, and a strong performance during the second half of the year, particularly throughout the summer.
Despite operating with 37 fewer stores than the previous year, Shoe Zone's total number of stores stands at 323.
Demonstrating Resilience in Uncertain Economic Times
Chief Executive Anthony Smith expressed confidence in Shoe Zone's resilience, highlighting the company's consistent delivery of robust results during times of economic uncertainty.
Final Results to Be Published in January
Shoe Zone intends to publish its final results for fiscal 2023 in January.
Our Latest News
The Symbolism of Conflict: Hamas Attacks Israel
This article discusses the recent Hamas attack on Israel and its symbolism, as well as its impact on oil prices and global reliance on OPEC oil. It also explore...
Premier Foods Reports Strong Sales Growth in Third Quarter
Premier Foods reports a 14% increase in group sales and a notable spike of 13% in branded sales in Q3. Sweet-treat and international sales also soar.
Smith Douglas Homes Corp. Announces Upcoming IPO
Smith Douglas Homes Corp. plans to launch an IPO, offering 7.69 million shares at a projected price range of $18 to $21 per share, aiming to raise approximately...