Shoe Zone (SHOE): Subdued consumer demand and UK Budget

This situation live

SHOE Shoe Zone

£35m · 74.0p · +4% since the first step

23 Oct 2025 · cautious near-term outlook, trading subdued · −17% until the next step We continue to monitor the macro-economic environment closely and await the outcome of the November UK Budget in the coming weeks.

13 Jan 2026 · Q1 revenue below forecast; FY26 PBT guided to £1.0m · −14% until the next step Trading conditions remained challenging in the first quarter of the new financial year, with revenue down on forecast, reflecting ongoing macro-economic pressures that continue to weigh on consumer co

22 Apr 2026 · FY26 guidance cut to adjusted loss · −11% until the next step As a result, the Company now expects an adjusted loss before tax for the financial year ended 3 October 2026 to be in the range £1.0m - £2.0m, down from previous expectations of a £1.0m adjusted profi

11 May 2026 · Guidance confirmed; H2 hit by fuel, sterling · +35% until the next step Trade continues to be negatively impacted by a further weakening in consumer confidence, following the Government's last two budget announcements, as well as the geo-political issues in the Middle Eas

16 Jul 2026 · FY26 loss guidance narrowed to no more than £1.0m · +13% until the next step Accordingly, the Board now expects an adjusted loss before tax* of no greater than £1.0m for the financial year ending 3 October 2026, an improvement on the previous guidance of an adjusted loss befor

11 Aug 2026 · Guidance of loss of no more than £1.0m maintained · +14% since The Board continues to expect an adjusted loss before tax* of no greater than £1.0m for the financial year ending 3 October 2026.

Upgrade / downgrade cycle

Subdued consumer demand and UK Budget

Guidance of loss of no more than £1.0m maintained

Next: Full-year results for year ending 3 October 2026

Every step · 6

23 Oct 2025 cautious near-term outlook, trading subdued – We continue to monitor the macro-economic environment closely and await the outcome of the November UK Budget in the coming weeks. ↗
13 Jan 2026 Q1 revenue below forecast; FY26 PBT guided to £1.0m – Trading conditions remained challenging in the first quarter of the new financial year, with revenue down on forecast, reflecting ongoing macro-economic... ↗
22 Apr 2026 FY26 guidance cut to adjusted loss – As a result, the Company now expects an adjusted loss before tax for the financial year ended 3 October 2026 to be in the range £1.0m - £2.0m, down from... ↗
11 May 2026 Guidance confirmed; H2 hit by fuel, sterling – Trade continues to be negatively impacted by a further weakening in consumer confidence, following the Government's last two budget announcements, as well... ↗
16 Jul 2026 FY26 loss guidance narrowed to no more than £1.0m – Accordingly, the Board now expects an adjusted loss before tax* of no greater than £1.0m for the financial year ending 3 October 2026, an improvement on the... ↗
11 Aug 2026 Guidance of loss of no more than £1.0m maintained – The Board continues to expect an adjusted loss before tax* of no greater than £1.0m for the financial year ending 3 October 2026. ↗

What is happening

Shoe Zone: Subdued consumer demand and UK Budget – Guidance of loss of no more than £1.0m maintained. ['Guidance of loss of no more than £1.0m maintained']

In short: Guidance for FY26 was cut twice (January, April) to a £1.0m-£2.0m adjusted loss, then narrowed on 16 July to a loss of no more than £1.0m. The 11 August update confirms that guidance after positive July trading, with cash of about £7.0m ahead of original budget.
Announced: 23 Oct 2025 · cautious near-term outlook, trading subdued
Latest: 11 Aug 2026 · Guidance of loss of no more than £1.0m maintained
Guidance: Adjusted loss before tax no greater than £1.0m, year ending 3 October 2026
Previous guidance: Adjusted loss of £1.0m-£2.0m, announced 22 April 2026
Cash: approximately £7.0m at 25 July 2026, ahead of original budget
Trading: positive throughout July

What comes next

Full-year results for year ending 3 October 2026.

Briefing Pro

New to Shoe Zone? Get up to speed in 2 minutes.

What it does, how it got here, what management promised and delivered – written from its own announcements.

Get the SHOE briefing →

From the company's own announcements. Not investment advice.

Also at Shoe Zone 1 open

Capital returnBuyback programme – proposed Insider conviction2 directors buying – £1,380k in 2 buys · closed Shoe Zone – company page →