Shoe Zone (AIM: SHOE) – profit and revenue slip but growing sales online
The Group’s trading update announced on 4th April hinted at gloomy times, but today’s interims indicate that trading during the first half of this financial year was not too dismal. Both revenue and profit before tax fell to £78.2m and £2.0m respectively but despite these issues, the inventory has been well managed, product gross margins remain robust at 60.5% (2014 H1: 60.2%) and cash generation continues to be strong. As at 4 April 2015, Shoe…
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