We are pleased to announce the signing of a new Franchise agreement in Saudi Arabia, with Abdullah Al Othaim Fashion. Having grown a successful chain of QUIZ stores in the country since first launching over 10 years ago, this new partnership will help accelerate our growth plans through a programme of refurbishment of existing sites plus a rollout of new outlets over the coming years. Al Othaim Fashion is part of Abdullah Al Othaim Investment Co., one of the largest shopping mall operators in the Kingdom of Saudi Arabia, with a diversified range of mall, entertainment, retail, food & beverage, and cinema businesses. With a pipeline of some of the most impressive large scale retail and hospitality construction projects in the region, we look forward to supporting their ambitious growth plans with the rollout of new QUIZ stores across their developments. |
No amount of Sheraz or Heraz can save this. Dire. |
Interesting update, may buy if it drops anymore. 12% revenue drop expected and need to implement the same turnaround as ASOS imo. |
Burning through cash |
Big buyer on L2 (probably Tajveer Gill)has buy orders of 200,000 @ 5.35p and 100,000 @ 5.30 this morning. |
My understanding was they were investing in their existing distribution centre in anticipation of future expansion. Better to do this when things are quiet rather than when the warehouse is already rammed.
Historic profits were made from a bigger retail base. Central costs spread over more stores.
Quiz needs to batten down the hatches and hope they emerge the other side strong enough to take advantage of the upturn when it comes. |
Reading through the latest results.... Pretty nuts investing heavily in a distribution centre. Not a single statement that it'll be more efficient, lower costs, etc! What was thatkmey spent for?And then on top of that, new stores. And they can't be that profitable, otherwise they'll assure by saying something like "these new locations are trading well, expected to pay back opening costs within 6 months".Feels like management thought the weak trading patch was temporary, things will return to normal growth soon, but it hasn't. No surprise. |
Does this seem oversold? or are they fighting for survival? I thought they was opening stores? |
Buyer appear on L2 after 11am
200k @ 5.3p
150k @ 5.25p |
For the last couple of months there have been several 250k buy orders on L2 going down in steps. Since the results those buy orders have been taken out.
Now the Buy Order side on L2 is very thin 95k @ 5p, 30k @4p and 60k @3.88p.
It will be interesting to see if the buyer appears again at a lower level.
I was able to sell QUIZ at a loss without much trouble. It may be more difficult now to sell in volume.
If anybody here is still holding it would be interesting to see how many you can sell on a test sale.
I only have a tiny amount left in QUIZ, so that I can keep an eye on the price movements. |
Judging by the charts for both Boohoo and QUIZ, they are both barking dogs that should be avoided. |
ANYONE THAT TOOK NOTE when i state on 6th AND MONTHS AGO
time to SELL AT 12P / 10P have made a fortune
see i was correct now bag holders .... THANK YOU QUIZ its like QUICK SAND .. SINKING
POCKETERD £197k |
In an online world Quiz will struggle. The competition was ASOS and Boo Hoo, with Shein joining the party (not good news for ASC and BOO). This is either a scale or a niche business and Quiz is neither. |
kemche5 Jul '23 - 09:28 - 1874 of 1888 Edit
0 0 0
Dire. |
Ouch. Not totally unexpected though considering everything that’s happening with peers etc. |
This management has delivered nothing but bad news since listing |
Hindsight is 20/20. Management were too blinkered and didn't realise that progress last year did not mean they had a strong brand, just a post covid surge. Furthermore, they didn't think inflation would cause big cut backs in their area of fashion.So Quiz is back to where it was pre-covid. A struggling, dying brand. They did nothing in the 3 years to transform the business. |
On wonders why company went on to open more stores in a recessionary environment and blew away healthy cash pile now they are talking about controlling costs. |
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