Quiz Share Discussion Threads

[sbb1x] 06/2/2020 08:25

Still going then...

[callumross] 15/1/2020 15:08

Russ Mould, investment director at AJ Bell, said: "Quiz by name, quiz by nature. Everyone now asks the same question to the retailer: why is trading consistently poor? The company has issued yet another update showing declining sales albeit managing not to suffer a profit warning because expectations were already so low.

"The retailer reported sales growth from its own websites but revenue from third party website partners remains weak. That suggests its clothes are not standing out from the crowd and its problems may simply lie in its creative department.

"It’s proposition is to sell clothes for people’s memorable occasions. For investors who have suffered a huge fall in the share price - down 90% since joining the stock market in July 2017 – the only memorable thing about the business is its inability to generate value for shareholders."

[tomboyb] 15/1/2020 12:39

Poor trading update -

Let see where it goes -

My QUIZ looking very empty -

[kaka47] 10/1/2020 07:49

Retailers are reporting Bad Xmas sales and weaker ones like Quiz get hit hardest

[jltaylor1001] 09/1/2020 08:43

Seems to be some renewed optimism here. Update on Xmas trading next week I believe

[hamidahamida] 08/12/2019 19:54

Bought back in Friday IMO bounce is due

[onjohn] 05/12/2019 19:52

anybody seen hammid the troll lol




he changed his name

[dangersimpson2] 05/12/2019 19:49

Strange uncross - Cowgill finally putting shareholders out of their misery?

[onjohn] 04/12/2019 07:39

Dead cat ridden towards the last fart


1p on way

[manc10] 14/10/2019 19:31

anybody seen hammid the troll lol

[tomboyb] 11/10/2019 07:10

Quiz PLC Trading Update
11/10/2019 7:00am
UK Regulatory (RNS & others)

Quiz (LSE:QUIZ)
Intraday Stock Chart
Today : Friday 11 October 2019

Click Here for more Quiz Charts.
TIDMQUIZ

RNS Number : 5476P

Quiz PLC

11 October 2019

QUIZ Plc

("QUIZ" or the "Group")

Trading Update

QUIZ, the omni-channel fashion brand, announces a trading update for the six-month period to 30 September 2019 ("H1 2020" or the "period"). Overall, the Group's trading has been broadly in line with the Board's expectations against the backdrop of a difficult UK retail environment.

Group revenue in the period decreased by 5% to GBP63.3m (H1 2019: GBP66.7m). Gross margin for the period is expected to be in line with the Board's expectations at approximately 61%.

Online revenues grew by 7% to GBP20.0m (HI 2019: GBP18.7m), once adjusted for unprofitable revenue streams terminated during the year. Total online revenues in the previous period were GBP20.0m, consistent with the current year. The Group has continued to experience solid growth through its own QUIZ websites, with sales increasing by 12% year-on-year. This reflects continued investment in the Group's online proposition and product range, as well as effective marketing

As has been widely reported across the sector, and as previously stated by QUIZ, the trading conditions on the UK high street have remained very challenging. The Group's stores and concessions have experienced a reduction in footfall during the period against the prior year, resulting in weaker than initially anticipated sales. Sales in the Group's UK standalone stores and concessions decreased by 11% to GBP31.3m in H1 2020 (H1 2019: GBP35.1m). The rate of decline experienced has reduced in recent weeks. We continue to focus on improving the performance of our physical retail outlets and continue to believe in their importance to our omni-channel model and we are actively managing our stores and concessions to ensure their profitability. The average lease length on our stores remains relatively low at 26 months and we continue to appraise the economics of each store as leases come up for renewal.

Our international sales comprise stores and concessions in the Republic of Ireland and Spain as well as franchise operations in a number of countries. International sales increased by 3% to GBP12.0m in H1 2020 (H1 2019: GBP11.6m) reflecting growth in revenue from the franchise operations and Spanish stores. This growth is partially offset by a decline in sales in Irish stores and concessions consistent with the pattern experienced in the UK.

At 30 September 2019, the Group had net cash of GBP7.1m (31 March 2019: GBP7.5m).

In line with the previously announced outcome of the Board's business review undertaken earlier in the year, management have continued to take actions to achieve of the objectives of this review including improving the gross margin generated, reducing costs across the business, addressing the decline in footfall in stores and concessions, and the optimisation of QUIZ's omni-channel model. Further to this we remain confident that gross cost savings of between GBP2m to GBP3m are achievable in the medium term.

Commenting on trading, Tarak Ramzan, Chief Executive Officer, said:

"Overall, the Group's trading performance in the first half has been broadly in line with the Board's expectations despite the difficult UK trading environment. Sales growth through QUIZ's websites has continued, reflecting the investment in our product range and marketing initiatives.

Whilst trading conditions are expected to remain challenging in the near term, the Board remains confident that underpinned by QUIZ's flexible business model and an increasing online focus, the Group can return to sustainable profitable growth in the medium term."

The Group intends to announce its Interim Results for the six months to 30 September 2019 on 4 December 2019.

Enquiries:


QUIZ plc Via Hudson Sandler
Tarak Ramzan, Chief Executive
Officer
Gerry Sweeney, Chief Financial
Officer
Sheraz Ramzan, Chief Commercial
Officer

Panmure Gordon
(Nominated Adviser and Sole Broker)
Alina Vaskina / Joanna Langley
(Corporate Finance)
Erik Anderson (Corporate Broking) [phone]
Hudson Sandler LLP (Public Relations) [phone]
Alex Brennan / Nelly Akpaka quiz@h

[manc10] 07/9/2019 16:00

anybody seen hammid the troll

[hamidahamida] 05/9/2019 08:29

It is all about the management These guys are very slow in reacting to changes in consumer behaviour High street is dead Online is the way to go Quiz must Dump physical storesand fully concentrate on Online

[paleje] 05/9/2019 08:00

Contrast them with boohoo who gave a very positive trading update this morning, management don't seem to know how to get out of the mess they're in, talking about recovering growth in the 'medium term' doesn't really excite.



Shares in the fast fashion retailer Quiz fell sharply yesterday as it warned that tough conditions on the high street showed no signs of easing.

The company said in a trading update that underlying sales since the end of March had been in line with last year. However, while its online sales were growing, it had suffered a reduction in shoppers visiting its high street shops.

The shares fell by 12.3 per cent to close down 2¼p at 16¼p after the update before yesterday’s annual meeting, valuing the company at £20 million.

Quiz floated on London’s junior Aim exchange in the summer of 2017 with shares priced at 161p. The company runs more than 70 UK shops and 170 department store concessions as well as a network of directly owned and franchised international outlets.

Founded by Tarak Ramzan in Glasgow in 1993 as a womenswear specialist, the company has expanded into menswear as well as specialist areas such as bridal attire and swimwear.

The retailer is in a turnaround phase following three profit warnings in the past year and is looking to cut £3 million of costs. Part of that involves reducing the number of stores and concessions it runs over the coming months.

Quiz suspended dividend payments for the 12 months to the end of March this year as it saw pre-tax profit drop to £216,000, compared with £8.5 million in the prior year, in spite of its revenue increasing 12 per cent to £130.9 million.

Peter Cowgill, 66, its chairman, said underlying revenue in the current trading period was close to last year’s numbers although the challenging trading conditions the company flagged in June had persisted across the summer.

“Consistent with the widely reported conditions on the UK high street, the business has experienced a reduction in store footfall during the period compared to the previous year when the group experienced particularly strong demand,” Mr Cowgill said.

There was some optimism from the performance of Quiz’s online operations, with sales growth particularly strong from its own portals.

Mr Cowgill indicated that the company does not expect any sudden improvement in trading but said the board was confident of returning to profitable growth over the medium-term. It has already announced plans to shut 20 concessions and may close more.

[honestmarty] 04/9/2019 07:59

Going to tumble

[hamidahamida] 04/9/2019 07:57

Like I said before this company is doomed unless they get rid of high street stores

[hamidahamida] 04/9/2019 07:56

Management is completely out of touch with investors

[hamidahamida] 04/9/2019 07:50

Not said a thing about Cash Balance