Shoe Zone PLC Date of Final Results (5415G)
26 November 2020 - 6:00PM
UK Regulatory
TIDMSHOE
RNS Number : 5415G
Shoe Zone PLC
26 November 2020
26 November 2020
Shoe Zone PLC
("Shoe Zone", the "Company" or the "Group")
Date of Final Results
Shoe Zone announces that, as a result of the impact of the
second Government mandated lockdown in the UK, it will now announce
its Final Results for the period ended 5 October 2020 on 8 March
2021.
As should be expected, the second lockdown in England at a
critical time of year will have a negative impact on the Group's
revenue in the current financial year, resulting in an anticipated
reduction in revenue of at least GBP12m compared to the year ending
5 October 2020, even allowing for the good gains in online trade.
The very late lockdown in certain areas of Scotland and all of
Northern Ireland has further exacerbated the impact on our
pre-Christmas trading. Notwithstanding this anticipated reduction
in revenue, the Group continues to have a material net cash balance
sheet position, and the Board continues to anticipate that the
Group has sufficient liquidity available to it, assuming there are
no further material COVID-19 related restrictions mandated by the
Government over and above those already known.
It is very difficult at this stage to provide any further
meaningful guidance on the future outlook, given the material
uncertainty in the wider economy.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement via regulatory news service this inside information is
now considered to be in the public domain.
For further information please call:
Shoe Zone plc
Peter Foot (Finance Director) Tel: +44 (0) 116 222 3000
FinnCap Limited (Nominated Adviser & Broker)
Matt Goode / Kate Washington (Corporate Finance) Tel: +44 (0) 20
7220 0500
Alice Lane (ECM)
About Shoe Zone
Shoe Zone is a Town Centre, Retail Park and Digital footwear
retailer, offering low price and high quality footwear for the
whole family.
Shoe Zone operates from a portfolio of around 460 stores and has
approximately 3,000 employees across the UK.
The store portfolio consists of over 410 high street stores
containing the core Shoe Zone product range and 50 larger Retail
Park units which also feature brands such as Skechers, Hush Puppies
and Kickers.
The website shoezone.com, combined with the store network,
ensures a full multi-channel offering for great customer
service.
Shoe Zone sells 16 million pairs of shoes per annum at an
average retail price of GBP11.
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END
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