Shoe Zone shares climb as spring demand exceeds anticipations
Daily Mail Shares in Shoe Zone soared on Friday after the footwear retailer revealed that trading since the middle of May had surpassed forecasts.
The Leicester-based firm noted 'particularly strong' demand in May and early June, supported by healthy orders for summer goods, while falling container shipping rates boosted its profitability.
It now anticipates earning at least 10.5million in adjusted pre-tax profits for the 12 months ending 2 October, although this was down on the 11.2million made the previous year.
Shoe Zone shares subsequently jumped by 9.2 per cent to 229.4p just before markets closed on Friday, meaning their value has grown by around 138 per cent in the past three years.
When the Covid-19 crisis started, the company experienced a major downturn in trade after lockdown restrictions forced its high street outlets to temporarily close.
