And you know this how? |
WHEN IS THE DILUTION / FUNDING
?
MORE BAD NEWS SOON |
cash is running low RED FLAGS
TIME TO SELL
5p soon |
CASH HAS ALMOST RUN OUTB ? GET READY FOR DISCOUNTED FUNDING / DILUTION
TIME TO SELL ..
5p soon |
will cash out at 4p soon AS THE SHARE PRICE IS BEING SHORTED and unloved lol
BAD NEWS RE RECESSION DUE EARLY IN 2024
CASH RUNNING LOW ... RED FLAGS .. PROFITS IN DECLINE / REQUIRE FUNDING SOON ?
TIME TO SELL TODAY |
Opportunity to SELL TODAY AT 8AM ONWARDS |
I did say keep selling ages ago check my posts I said top up at 10p after today top up at 6p
keep SELLING SELL TUESDAY all the way to 6p folks
cash running low / management clueless & burning the cash fast this year
Dilution / cash CASH CALL or we going a BUST!!! FINISHED / SUSPENSION LOOMS |
who knows but got to be worth a cheeky long at these levels? |
2p fair value? |
Margin will be lower in pure online retailers like ASOS and Boohoo.
Adding wholesale will cut margins (SOS) so you need to start with higher direct online margins.
SDRY and DOC have much higher margins in order to sell wholesale and high street.
I see Quiz somewhere in the middle, which is either a niche or no-man's-land.
I think the mix of online and stores will become fashionable with investors at some point soon when Next and M&S show what is possible with omnichannel. Will the tech be to expensive for a company of Quiz size? I think the tech will filter down through to smaller businesses at a reasonable cost in time. |
I looked at the ratio of EV to sales for comparators and GM
EV / Sales.
QUIZ - 0.06 , 61.7%.
ASOS - 0.15 , 43.6%,
Boohoo - 0.52 , 50.6%
SOS - 1.09 , 56.2%
QUIZ has the lowest value in relation to revenue and the best margin. |
 QUIZ Update from small caps -
Quiz Clothing (QUIZ.L) - Final Results
These are really good results. EPS is given as 1.64p vs 1.65p last year. In the full annual report for last year, they said there were no exceptionals for 2022, after losses from putting their property-lease-holding subsidiary in administration in 2021 in order to renegotiate leases. Stockopedia agrees with the company supplied adjusted EPS for previous years on this occasion. Therefore, assuming no more exceptionals (and 2021 was as exceptional as it gets), the outurn of 1.64p EPS compares with forecasts of 1.3p.
On the outlook, they said in their April update:
Group revenues in the final three months of FY23 were broadly consistent with those generated in the comparable period in FY2019, that being the last period unaffected by coronavirus related factors.
And this is this week’s:
Revenues in the first three months of the current financial year have been broadly consistent on a like-for-like basis with those generated in the comparable period in FY 2019, that being the last period unaffected by coronavirus-related factors.
So we have six months of continuous trading slightly below 2019. Our best bet must be that this will continue. But this is on a like-for-like basis. Today they report 68 stores GB+Ireland plus 67 concessions. In the 2019 annual report, they claimed 78 GB+Ireland stores plus 188 concessions, including 50 in Debenhams. So we understand revenues to be materially lower than in 2019. But, the cost side has been transformed due to the "renegotiated" leases.
The market didn’t like this update. Presumably, this did the damage:
The Group generated revenue of £23.2 million in the three months to 30 June 2023, representing a 15% decrease on the prior year in part reflecting the strong prior year comparatives in the first half as well as the impact of the macroeconomic uncertainty and inflationary pressures on consumer demand.
We had expected the good weather to have helped them more during this period. But then H1 last year was indeed very strong, with EPS of 1.19p.
The other thing that may be worrying investors is the post-period cash movement:
Total liquidity headroom at 4 July 2023 of £7.1 million, being a cash balance of £3.7 million and £3.7 million of undrawn banking facilities less £0.3 million of bank loans
On that, they say:
The cash utilisation since 31 March partially reflects investment in three new stores and the commencement of works to expand our distribution centre.
Note, however, "partially". We must suspect most of the rest has gone into working capital rather than to losses, given the unchanged headroom in the downside scenario in the going-concern statement.
This was confirmed in the IMC presentation, where they said there was £1.5-1.6 capex in the last three months, including £1.3m investment in the distribution centre, but also some build-up of working capital.
The other key learning from the presentation was that, despite the weaker Q1, they expect to match, if not beat, last year's number. With brokers forecasting 1.7p EPS for this year and 2.5p next, this simply looks too cheap, anywhere near the current price, and the market appears to have been wrong to react negatively to these results. |
Hi, I can't do that, but you should be able to see the consensus numbers (there is only one broker) publicly on sites such as Stockopedia when they update. |
gdjs100 do you have access to the peel hunt note on quiz and is there any way you could post a screen shot of it? That would be much appreciated thank you. |
I think investors was hoping for a dividend.
"be conducted and processes are in place to allow for clear visibility across the Group's supply chain. The Board remains resolutely committed to ensuring the Group's systems, processes and culture are fit for purpose to assure compliance in this area.
Dividends
The Board does not recommend the payment of a final dividend (2022: GBPNil).
The business will remain focused on delivering a sustainable profitable performance, subject to which the Board would anticipate reinstating dividend payments." |
2.3m PBT last year, same again this year, and Peel Hunt have 3.9m forecast for next year. EV is currently sub 8m. Market is an odd beast at times. |
I'm hoping Quiz will improve FY24 outlook tomorrow as visibility improves. Recent good weather and the positive trading update from Next last month were the main reasons I am overweight in Quiz ahead of tomorrows results. |
QUIZ will publish its FY23 results for the financial year ended 31 March 2023 on Wednesday 5th July 2023. |
cash has vanished now ? recession and worrying that new stores are opening at QUIZ ?
Opportunity maybe a top up at 5p on any weakness lads |
I will ave a top up at 10p again soon / any bad news maybe see 7p again |
Annual report: "In the year ended 31 March 2022 the number of concessions operated reduced from 119 to 69...The majority of the remaining concessions are operated in New Look stores"
"New Look is in talks with its lenders about refinancing £100m of debt amid a major restructure for the fashion chain....The move comes as the retailer is in the process of reducing its store portfolio from 800 to 400 as it focuses on ecommerce. |
BREAKING NEWS people now realise that cash is KING ..
cash is now less than half and may need more funding re expansion next year as recession looms ... wait for 8p
top up
I am SERLLING / SHORTING this week
no news due / no divi
quiz manager,ent not worried about a share price or share holders lol
5p will be a low point later this year or next
maybe A NEW LOCKDOWN THEN 3P ..
TIME TO SELL ITIMHO |
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