13th Oct 2021 14:00
Shoe Zone PLC - Leicester, England-based footwear retailer - Expects full year pretax profit of at least GBP6.5m, compared to GBP14.6 million loss in 2020. Reports total revenue of GBP119.1 million, compared to GBP122.6 million last year and GBP162.0 million in 2019. Net cash balance of GBP14.2 million at October 2, up from GBP6.3m year-on-year. Though, notes closure of 50 stores.
Digital strategy continues strong with revenue of GBP30.6 million, up 58% from GBP19.3 million last year. Digital revenue represents 26% of overall revenue, compared to 16% in 2020 and 6.5% in 2019.
"The decision to invest in our digital infrastructure and operations has led to significant growth in online sales over the last 12 months, giving us the confidence to make this the core of our business strategy going forward," says Chief Executive Anthony Smith.
Current stock price: 80.25 pence, up 21% on Wednesday
Year-to-date change: up 23%
By Josie O'Brien; [email protected]
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