Clarks back in profit - but Shoe Zone warns of a darkening outlook as it is hit by Labour tax hikes and the Iran war
Clarks has returned to profit after two years – but major stockist Shoe Zone warned of a gloomy outlook as it is hit by Labour tax hikes and the Iran war.British shoe group Clarks posted profits of £44.8million for last year, having made a loss of £39.2million in the previous 12 months. Clarks – which has previously teamed up with music legend Nile Rodgers to promote its shoes – hailed a ‘pivotal’ year, even after sales fell 3.3 per cent to £871.5million as shoppers became ‘increasingly cautious, selective and value-driven’ due to higher costs.Shoe Zone – which stocks Clarks shoes – warned of annual losses of up to £2million, blaming Labour’s tax raid. The retailer said ‘continued weakening’ in consumer confidence caused by successive Budgets and the war in Iran has created ‘challenging trading conditions’. On song: Clarks, modelled by guitarist Nile Rodgers (pictured), posted profits of £44.8m for last year having made a loss of £39.2m in the previous 12 monthsDIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Clarks back in profit - but Shoe Zone warns of a darkening outlook as it is hit by Labour tax hikes and the Iran war
