SHOE Shoe Zone Plc

TIDMSHOE

RNS Number : 8185O

Shoe Zone PLC

11 February 2021

11 February 2021

Shoe Zone PLC

("Shoe Zone", the "Company" or the "Group")

Date of Final Results

Ahead of releasing its Final Results for the 52 week period ended 3 October 2020 ("FY 2020") on 8 March 2021, Shoe Zone announces that it expects to report revenues for the period of approximately GBP122.6 million (2019: GBP162.0m) in line with previous guidance, and now expects to report a statutory loss before tax for FY 2020 of approximately GBP14.6m (2019: GBP11.3m PBT). The increase in the anticipated loss before tax from previous guidance relates to the impact of the recently adopted new accounting standard, IFRS 16 (Leases) on the Company's financial statements, and therefore is not a result of any change in trading guidance.

As previously announced, the Group continues to have a material net cash balance sheet position, and the Board continues to anticipate that the Group has sufficient liquidity available to it, assuming there are no further material COVID-19 related restrictions mandated by the Government over and above those already known.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

For further information please call:

Shoe Zone plc

Peter Foot (Finance Director) Tel: +44 (0) 116 222 3000

FinnCap Limited (Nominated Adviser & Broker)

Matt Goode / Kate Bannatyne (Corporate Finance) Tel: +44 (0) 20 7220 0500

Alice Lane (ECM)

About Shoe Zone

Shoe Zone is a Town Centre, Retail Park and Digital footwear retailer, offering low price and high quality footwear for the whole family.

Shoe Zone operates from a portfolio of around 460 stores and has approximately 3,000 employees across the UK.

The store portfolio consists of over 410 high street stores containing the core Shoe Zone product range and 50 larger Retail Park units which also feature brands such as Skechers, Hush Puppies and Kickers.

The website shoezone.com, combined with the store network, ensures a full multi-channel offering for great customer service.

Shoe Zone sells 16 million pairs of shoes per annum at an average retail price of GBP11.

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END

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February 11, 2021 06:06 ET (11:06 GMT)

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