Shoe Zone lifted as sales beat last year

The price of shares in AIM-listed retailer Shoe Zone (LON:SHOE) has shot upwards by 11.98% to 132.70p (as of 15:30 BST) after it said that revenues for the year ended 5th October were ahead of the prior period despite challenging trading conditions. Management said that the Big Box and Digital arms of the company had helped carry the company through the second half of the year.

CEO Anthony Smith said: “Shoe Zone has ended this difficult year in line with our revised expectations. It is early days in the new financial year but we have been encouraged by the performance so far. There are a further twenty Big Box openings planned for the coming year which, alongside our strong Digital momentum, will continue to drive growth in the future.

We look forward to updating shareholders on progress at the time of our Final Results in January“.