SHOE PROFITS DOWN AT HEEL

High street chain Shoe Zone has seen half-year profits crash by 84%. The firm blamed the Brexit-hit pound for sending its buying costs soaring.

The Leicester-based group saw profits plunge to £309,000 in the six months to April 1, from £1.9million a year earlier. Shoe Zone buys its stock from China in US dollars and has been hit hard by sterling’s fall since the EU referendum.