Updates

Shoe Zone - Accelerates big box openings

November 2018

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.

Given that most retailers are facing significant headwinds - online competition, the rising burden of taxation on bricks and mortar, the increase in the national living wage and cost inflation (sterling down 17% over three years) - Shoe Zone, the UK’s largest value footwear retailer, has issued a surprisingly strong pre-close update. But then Shoe Zone has been driving uplifts by closing small weak stores and targeting larger ones with better operating efficiencies.The group ended the year with 492 stores, having opened 16 and closed 20 and consequently it expects sales for the year to be up 1.8% to c.£161m and pretax profit c.9% ahead of market expectations at £11m/eps 17.6p.Within the 16 store openings, 10 ...

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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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