Back to school boosts profits for footwear giant

Leicester footwear giant Shoe Zone has upgraded its full-year profit guidance again, on the back of strong summer sales and back to school demand.

The firm says it now expects to make a surplus of £10.5m for the year-ending October 2 – up from the £9.5m it predicted a month ago.

Shoe Zone says it continues to benefit from margin improvements as a result of good supply chain and cost management.

The news was greeted enthusiastically by investors this morning (August 31) with Shoe Zone’s share price soaring by over 10% on early trading to 160p

Earlier this year Shoe Zone reported encouraging results for the 26 weeks to April 2, with turnover climbing by 73% to almost £70m.