Shoe Zone said it expects a drop in full-year revenues “reflecting the continued planned closure of loss-making stores”.
The value footwear retailer expects to generate sales of about £166.8m in the year to October 3, against £172.9m the previous year.
The retailer expects pre-tax profit for the period to be in line with expectations. It said it has “traded well in the second half of the year”.
Shoe Zone ended the year with 535 stores, having opened 18 and closed 28 during the period.
The retailer said it “continues to have strong cash conversion” and closed the year with an approximate net cash balance of £14.2m against £9.1m in the previous year.
Shoe Zone chief executive Anthony Smith said in June: “We remain focused on our growth levers: extending and improving our product range to leverage our market leading position in the value sector; driving efficiency in our property portfolio; operational investment in our warehouse facilities; and enhancements to our multichannel offering.”
Shoe Zone will report full-year results on January 13.
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