8th Mar 2021 13:48
Shoe Zone PLC - Leicester, England-based footwear retailer - Revenue decreases by 24% to GBP122.6 million in the 52 weeks to October 3 from GBP162.0 million in financial 2019, in a year impacted by Covid-19. Product gross margin slims to 61.4% from 62.7% year-on-year. Swings to pretax loss of GBP14.6 million from a profit of GBP6.7 million the year before. Shoe Zone won't pay a final dividend as a result, having paid 8.0 pence per share a year ago. The company did not declare any dividends for financial 2020 versus 11.5p the year before.
"All of our stores are closed, and we remain unable to forecast accurately due to current uncertainties," Shoe Zone says, adding that it looks forward to customers returning to its stores in England from April 12 and that its digital platforms continue to perform well.
Appoints Terry Boot to board as finance director, with immediate effect. Boot has over 25 years of experience in UK and European retail sector, having been UK finance director & management services director at Brantano UK Ltd and Jones Bootmaker Ltd from 2008 to 2016.
Current stock price: 69.40p, down 7.2% on Monday
Year-to-date change: up 6.8%
By Evelina Grecenko; [email protected]
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