Shoe Zone warned that the second Covid-19 related lockdown in England has trimmed its revenues by at least £12 million (€13.4m-$16.0m) compared with the previous year despite “good gains” in digital sales.
More recent lockdowns in certain areas of Scotland and all of Northern Ireland have further exacerbated the impact on pre-Christmas trading, the British retailer added.
England started a new lockdown on Nov. 5, while Scotland and Northern Ireland have gradually tightened restrictions. Scotland introduced local lockdowns on Nov. 20 and Northern Ireland implemented new measures on Nov. 27.
The company noted that it has a “material” net cash position and sufficient liquidity, assuming that no further significant restrictions are introduced to combat the pandemic.
Shoe Zone indicated that it is “very difficult” to provide additional guidance given the uncertain business environment.
