Updates

Shoe Zone

July 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shoe Zone is a retail anomaly as it continues to massage down store numbers each year to focus on bigger, better located and more profitable ones but yet it is making similar profits from fewer stores. Latest H1 shows it closed 23 loss making stores and also opened six new stores with sales down by 4.5% to £74.6m (like-for-likes were weak -1.5% having not bounced back from the weak -4.5% seen in H1 last year) as once again it was impacted by warm weather during the autumn and winter seasons. Profit before tax was £1.9m down from £2m. Eps was similar at 3p. Net cash was £8m.So Shoe Zone has ended H1 with 518 stores but the eye opening figure is that in the past six months the store profile has polarised towar ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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