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An announcement from Shoe Zone ( (GB:SHOE) ) is now available.
Shoe Zone announced its financial results for the 52 weeks ending September 28, 2024, revealing a revenue decline of 2.7% to £161.3m, attributed to fewer stores and challenging trading conditions. Despite this, digital sales saw a significant increase of 13.9%, driven by initiatives such as free next-day delivery. The company reported a reduced profit before tax of £10.1m, down from the previous year’s £16.2m, due to factors like unseasonal weather, increased costs, and a challenging retail environment. Shoe Zone continues its strategy of store refits and digital expansion, expecting future benefits from its ongoing investments.
More about Shoe Zone
Shoe Zone is a retailer in the footwear industry, focusing on offering affordable shoes through both physical stores and a growing digital presence. The company operates numerous stores, which have been undergoing a transition to larger formats, and also invests in digital infrastructure to enhance its online sales platform.
YTD Price Performance: 26.51%
Average Trading Volume: 49,564
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £48.54M
See more insights into SHOE stock on TipRanks’ Stock Analysis page.