Shoe Zone said spring sales have surpassed expectations, prompting a rise in the value of its share price. Shares in the Leicester-based discount shoe chain were up more than 10 per cent at Friday lunchtime after strong trade in recent weeks.
Management said sales since its previous update on May 16 “exceeded expectations due to particularly strong recent trading through May and early June”. The positive performance was partly driven by “strong early demand for summer products” as temperatures improved.
Shoe Zone also reported that profitability increased due to the effect of lower shipping container costs on the company’s margins.
