Shoe Zone has reported that trading over the past two months delivered sales performance exceeding market expectations, according to a recent company statement.
The retailer attributed the stronger-than-anticipated results to its warehouse clearance sale and favourable weather during the half-term period.
Improved trading has also strengthened the company’s cash position.
As a consequence, Shoe Zone now anticipates an adjusted pre-tax loss of no more than £1m for the year ending 3 October, down from earlier guidance of £1m–£2m issued on 22 April.
That prior update had included a profit warning, with the UK footwear chain forecasting a full-year loss due to softening consumer confidence.
The business described the first quarter of the calendar year as a period of difficult trading conditions.
Shoe Zone also cited ongoing erosion of consumer confidence following the Labour government’s last two Budgets, alongside pressure from the Middle East conflict, as factors weighing on the market.
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