Shoe Zone’s AGM statement has said FY24E trading is expected to be marginally below previous expectations due to a higher cost environment, including elevated container prices resulting from the ongoing tensions in the Suez Canal, combined with the larger-than-envisaged 10% increase in the national living wage, effective from April. We take a prudent approach to our outlook for H2, with lower gross margin driving a 9.3% downgrade to FY24E adj. EPS. Despite today’s trim to forecasts, Shoe Zone’s ....
