The Independent reported Tuesday that Shoe Zone expects an underlying loss of about £1 million for the 53-week financial year ended Oct. 3, after revenue fell 4.5%.
That would reverse underlying profit of £2.4 million in the prior year. Revenue was £142.4 million, the outlet reported, with store closures also weighing on sales.
Chairman Charles Smith described the first half as difficult, saying consumer confidence had weakened after the government’s November 2025 budget. He cited inflation, elevated interest rates and reduced disposable income as factors behind subdued spending. Smith said customers remained cautious about discretionary purchases.
Warm-weather and back-to-school shopping supported sales, Smith said. Later seasonal demand fell short of expectations, and weaker trading persisted into the first quarter.
Shoe Zone had 251 stores at the financial year-end, down from 269 in October 2025, according to The Independent. The retailer is moving toward newer, larger shops and aims to complete the effort by the end of 2027. Its portfolio included 211 larger-format locations and 40 original high street stores.
The company linked higher fuel and transport expenses, as well as more expensive shipping containers, to the Iran war, The Independent reported. Shoe Zone warned that recent cost increases and sterling’s decline against the dollar could hurt trading. It said it was monitoring conditions while awaiting the government’s October 2026 budget.
