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Shoe Zone shares plunge 22% as the chain braces for a £1m loss and its chairman blames the Government's budget

A Shoe Zone store on a high street, as the chain reports a £1 million loss and the permanent closure of 18 outlets, blaming the Government's November 2025 budget.
A Shoe Zone store on a high street, as the chain reports a £1 million loss and the permanent closure of 18 outlets, blaming the Government's November 2025 budget.

Shoe Zone's revenues dropped 4.5% to £142.4 million for the 53 weeks to October 3, tipping the Leicestershire-based chain from a £2.4 million profit into a £1 million loss. Chairman Charles Smith said consumer confidence "fell further" after the Government's November 2025 budget, citing inflation, high interest rates and pressure on household spending as drags on sentiment. The chain permanently closed 18 stores, reducing its estate to 251 outlets from 269 a year earlier.

The Iran conflict drove up fuel, transport and shipping container costs, and the pound's weakness against the dollar compounded the financial strain.

Shoe Zone reported that autumn/winter trading fell short of expectations, a challenge that has continued into the first quarter of the new financial year.

The chain is shifting toward larger-format stores and TikTok Shop to attract Gen Z shoppers, with a full retail overhaul due for completion by end of 2027.

MoreThe SunMajor UK shoe chain shuts 18 stores for good after plunging to £1million lossLondon South EastShoe Zone shares slump as forecasts loss amid weak consumer confidence - London South EastAOL.co.ukShoe Zone shares slump as chain braces for £1m loss amid falling sales - AOL.co.ukLondon Business NewsShoe Zone shares plunge as cost pressures threaten return to loss - London Business News
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