Suffers from higher container prices (Il Sole 24 Ore Radiocor) - London, 02 Jul - The UK footwear retailer Shoe Zone further cut its full-year guidance and now expects adjusted profit before tax for the financial year ending October 2 to be "not less" than 10.0 million pounds.

The company said that it has continued to experience cost pressures associated with container prices due to a reduction in the supply of shipping vessels and the continuation of a reroute away from the Suez Canal. "As a result, container prices have risen significantly over the last six months," it added.

Alongside an increase in shipping costs, the company has experienced weaker than expected spring-summer sales from April to June, due to unseasonal weather conditions.

The group's original full-year profit before tax forecast was 15.2 million pounds, before being revised down to 13.8 million pounds in May.

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(RADIOCOR) 02-07-24 09:41:07 (0201) 5 NNNN