Shoe Zone sees shares on back foot after warning over profits slump

Retailer Shoe Zone has warned it expects annual profits to fall by more than 40% after the weather over the summer had an impact on sales (Mike Egerton/PA) - (PA Wire)

Retailer Shoe Zone has warned it expects annual profits to fall by more than 40% after the weather over the summer had an impact on sales.

The chain said pre-tax profits are expected to be “not less than” £9.6 million in the year to September 28, which would be 41% lower than the £16.2 million reported a year ago.