Shoe Zone (AIM:SHOE) – profit warning and the shares tumble; buying opportunity?
Blame for the warning was placed firmly on warm weather conditions which had a material impact on autumn/winter trading which slowed revenues in the first half. While footwear sales volumes increased, the average price was down due to the different product mix sold. Management offered a lovely example of this with, for example, lower priced ladies ankle boots being favoured over long leg boots.
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