{"id":160748,"date":"2019-01-09T10:18:57","date_gmt":"2019-01-09T10:18:57","guid":{"rendered":"https:\/\/www.theindustry.fashion\/shoe-zone-shares-step-up-as-annual-profits-jump\/"},"modified":"2021-08-12T13:54:37","modified_gmt":"2021-08-12T13:54:37","slug":"shoe-zone-shares-step-up-as-annual-profits-jump","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/shoe-zone-shares-step-up-as-annual-profits-jump\/","title":{"rendered":"Shoe Zone shares step up as annual profits jump"},"content":{"rendered":"<p>Shares in Shoe Zone rose on Wednesday after the footwear retailer <strong>dished out \u00a34m to shareholders as a result of bumper annual profits.<\/strong><\/p>\n<p><!--more-->The payout, in the form of a special dividend, came as the high street chain booked <strong>an 18% increase in pre-tax profit to \u00a311.3m<\/strong>\u00a0in the year to 29 September.<\/p>\n<p>Revenue rose 1.8% year on year to \u00a3160.6m, with online sales jumping 19.9% to \u00a39.8m.\u00a0The group said it would reward investors with an 8p-per-share final dividend, taking the year\u2019s total to 11.5p.<\/p>\n<p>In addition, it also plans an 8p special dividend from surplus cash, amounting to \u00a34m.\u00a0<strong>Shares were up more than 10% in morning trade at 199p.<\/strong><\/p>\n<p>CEO Nick Davis said: \u201cI am pleased to report 2018 has been another successful year for Shoe Zone, with the group <strong>delivering a record profit before tax since IPO<\/strong>, driven from a strong performance throughout the business while operating in a challenging consumer environment.<\/p>\n<p>\u201cAs a result of the strong performance, the board is pleased to again return excess cash to shareholders by way of special dividend.\u201d<\/p>\n<p>Shoe Zone <strong>opened 10 new Big Box stores during the period<\/strong>, with its strategy showing \u201ca clear path\u201d to growth by moving into out-of-town retail sites. At the year-end it had 492 stores in total, and 19 Big Box sites.<\/p>\n<p>For the current year, Shoe Zone said it has made a \u201csolid start\u201d to annual trading, which is ahead of previous market expectations.<\/p>\n<p><em>Words and image: Press Association<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[9875,13788,13789],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shoe Zone shares step up as annual profits jump - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Shares in Shoe Zone rose on Wednesday after the footwear retailer dished out \u00a34m to shareholders as a result of bumper annual profits. 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