Shoe Zone issues profit warning as weather and wallets take a hit

Leicester-based footwear retailer Shoe Zone has issued a profit warning, attributing reduced revenue and profit to weaker consumer confidence and unseasonal weather.
This morning’s trading update (December 18) revealed that profits are expected to be £5m lower than anticipated.
The company says it has been compounded by rising costs, including increases in National Insurance and the National Living Wage, which are expected to impact the financials for the full year.
As a result of these challenges, Shoe Zone has announced the closure of several stores that are no longer viable.
The shoe retailer last issued a profit warning in July this year after experiencing weaker-than-expected spring-summer sales from April to June.
Shoe Zone continues to operate a large number of stores across the UK, with a mix of town centre locations, retail parks, and digital sales, employing around 2,250 people.
The retailer’s store portfolio includes both high street and larger format stores, which offer a range of brands such as Skechers, Hush Puppies, Rieker, and Lilly & Skinner.