Russ Mould, investment director at AJ Bell, said: “Shoe Zone has taken a step backward as life becomes harder for the discount retailer.
“A more cautious consumer, lower footfall to its stores, and extra costs linked to the Middle East crisis has put an end to its dream of making a profit this year.
“The company has issued a profit warning, saying it now expects to make a loss for the year to October 3.
“For a business that sells essential items at low prices, one might be surprised at the number of setbacks over the years.
“Its journey has been wobbly, but these challenges have given it plenty of experience at coping with headwinds.”
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