March 17, 2020 / 9:01 AM / in 12 days

Shoe Zone puts dividend on hold as virus hits footfall

March 17 (Reuters) - Shoe Zone on Tuesday deferred its full-year dividend payment to conserve cash flow as it saw fewer customers across its estate in recent days due to the coronavirus outbreak.

The footwear retailer’s shares were down 28.3% at 73 pence by 0857 GMT.

“Whilst the full extent of the coronavirus on the short and medium term retail environment is not yet clear, it is becoming ever more apparent that it will create significant disruption to people’s lives and shopping habits in the coming months,” the company said. (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shailesh Kuber)

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