Shoe Zone Sees FY22 Adj. Pretax Profit Not Less Than £8.5 Mln, Margin Growth; Stock Up

Shares of Shoe Zone plc (SHOE.L) were gaining around 8 percent in the early morning trading in London after the British footwear company said Wednesday that it now expects adjusted profit before tax for fiscal 2022 to be not less than 8.5 million pounds.

In its trading update, the company noted that its business has been trading well since the publication of its interim results in May. The company has seen strong margin improvements and cost savings, in particular as a result of rent reductions and good supply chain management.

The improvement is expected to continue into the fourth quarter to October 2.

In London, Shoe Zone is trading at 166.66 pence, up 7.52 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022. Pool and Spa drain covers imported to the United States by various companies have been recalled due to violation of the Virginia Graeme Baker Pool and Spa Safety Act, the U.S. Consumer Product Safety Commission announced. The various recalls include pool and spa drain covers manufactured in China and sold exclusively at Amazon.com for different prices ranging from $10 to $12.
Follow RTT