Investors put the boot into Shoe Zone share price before late rally

Shares in embattled Leicester-based retailer Shoe Zone fell sharply on Tuesday morning (January 21) trading.

Some 10% was wiped off the value of the company after it reported a slump in profits for the year-ending September 28 2024 from £16.2m to £10.1m.

Revenue fell by 2.7% to £161.3m over the period, with store sales dropping 6.5% due to having 26 fewer shops.

At 10.45am on Tuesday, Shoe Zone shares were changing hands for 90p – down 10p on the day.

However, the share price rallied in the afternoon to close down 5% at 95p.

After issuing a profit warning in December last year—its second of the year—Shoe Zone acknowledged that rising National Insurance and National Living Wage costs would weigh heavily on its latest financial results.

Its share price has fallen 60% in the last year and were at a three-year low at the start of 2025.

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.

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