"Shoe Zone now expects an underlying pre-tax loss of between £1 million and £2 million for the year to October 3, reversing earlier forecasts of a profit of around £1 million."
"These macroeconomic factors have increased customer caution, leading to lower footfall, less discretionary spend and additional costs such as container prices and transportation costs."
"The latest update adds to growing concern across the retail sector that fragile consumer demand and rising global costs are creating a difficult trading environment, particularly for value-focused high street chains."
Shoe Zone anticipates an underlying pre-tax loss of £1 million to £2 million for the year ending October 3, reversing previous profit forecasts. The retailer cites deteriorating trading conditions, weakened consumer confidence, and rising costs linked to the Iran conflict and UK budget measures. Shipping and transport costs have increased, further straining margins amid subdued demand. The company has previously criticized government policies for adversely affecting consumer confidence and business costs. The retail sector faces challenges from fragile consumer demand and rising global costs, impacting value-focused high street chains.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]