Quiz Share Discussion Threads

[kaka47] 22/11/2021 15:35

No brainer Pre pack is done, shops are open Business is booming

[kaka47] 22/11/2021 15:33

Woooooooshhhhhh time soon

[go4growth1] 22/11/2021 12:54

Before and after pre-pack adminassessment by Paul Scott Worth reading again.1. Too dependent on third parties (especially Debenhams), hence as they unravelled, it pulled QUIZ down also.2. Product. Fashion retail is mainly about getting the product right. Clearly, for performance to have deteriorated so badly, then they must have got product ranges wrong.3. Fixed costs too high, especially shop leases, which pulled down so many household name retailers too.Looking at those in turn, what has been done about these issues?1. The company is now controlling things itself, with own website sales, and own stores now the main channels.2. I'm told they've made improvements to product team, and crucially the merchandising team - making sure that they order the right product, in the right quantities. Remember this is not mainly a fast fashion, test & repeat business, because styles for occasionwear are less fashion sensitive than say for Boohoo & others. QUIZ is targeting a different niche, and note it achieves excellent gross margins as a result.3. The pre-pack admin in 2020 ditched the problem shop leases. This roughly halved the rents, and they're all now turnover rents, mostly with no base rent. What that means, is the business is operating on much lower costs but also has great flexibility - so if there's another downturn/lockdown, then rents drop to almost nil. Leases average 2 years, so having been pulled down twice now (2008 & 2020) by shop lease liabilities, that won't be happening again.So the way I look at it, they've fixed the main structural problems with the business. It's now profitable I believe. There's been no dilution. The family still own c.50% of the business, and I'm told are totally committed to turning it around. The last update demonstrated that the hard work has already been done - look at the current trading section - now achieving close to pre-pandemic sales, but on lower overheads.It's not the best business in the world, but the turnaround here is far more convincing to me (as a former retailing CFO) than either SuperDry or Ted Baker for example, where it's all talk & nothing whatsoever to confirm a turnaround in the actual numbers.Forget about the past, and the ridiculous comment comparing it with Koovs (which was never viable from day 1 until the last day). Looking forwards, there's a nice business emerging here. It'll take time for the market to recognise that, but I'm happy to wait, having spent about a year quietly hoovering up cheap shares around 8p, for about 2% of the company. So obviously am talking my own book, same as everyone does, but hopefully people recognise that I'm backing up my view with facts & figures, and am realistic.It's quite bizarre. My largest (by far) retail pick this year was BOO, which has flopped (so far, it'll be fine long term). But my big winners have been the apparently basket cases of FCCN (takeover bid at 30p) and QUIZ (doubled year to date). Funny how things work out, you never really know which shares in your portfolio will do well, and which ones won't, and it's often the carefully researched special situations that everyone else hates, that surprise to the upside, like this one!

[go4growth1] 22/11/2021 12:31

Shopping centres are packed out Clothing retailers are the big winners Quiz is very busy Ist half results in early December

[go4growth1] 22/11/2021 12:26

Mms are desperate for stock

[come2papa] 21/11/2021 08:20

Sales are rocketing Clothing sales increased by 6.2% in October, which was only 0.5% below pre-pandemic trading sales recorded in February 2020. The ONS said that clothing retailers attributed the increase to shoppers beginning their Christmas shopping earlier than previous years.ONS chief economist, Grant Fitzner, said: "After five months of no growth, retail sales picked up in October. Although sales overall are above pre-pandemic levels, it remains a mixed picture. Clothing, department stores and toy shop sales reported a boost this month, with clothing stores reaching their highest level since the start of the pandemic, with some retailers suggesting that early Christmas shopping helped to bolster trade."Fuel sales fell sharply on the month, as they returned to more typical levels following September's increase. Food and online sales also fell, although they remain above pre-pandemic levels."

[come2papa] 21/11/2021 08:16

Retail sales rise as Christmas shopping starts early in Great Britain. October clothes and toys spending drives first increase in six months. https://www.theguardian.com/business/2021/nov/19/retail-sales-rise-as-christmas-shopping-starts-early-in-great-britain

[paddygangster] 18/11/2021 08:20

Spoken to a QUIZ supplier He is saying Quiz is busy. Quiz buyers are placing a lot of orders and they are repeating orders, not just with him but with other suppliers. Paul Scott would know when a clothing retailer repeats orders its a very good sign. Expecting a bumper update

[millennialinvestor] 17/11/2021 13:55

What about the QUIZ death spiral that jackson83 warned us all about?

[come2papa] 17/11/2021 08:45

Increased my position this morning With 2 x 50k plus trades not showing yet

[come2papa] 16/11/2021 15:49

Mcap 23 millionYE2022 Revenue e 70/80 million Profitable Cash in the bankTight float Over 50% owned by the managementQuiz floated over 135p few years agoNo dilution since floatation

[come2papa] 16/11/2021 15:30

Paul Scott::QUIZ survived the pandemic, in good shape, thanks to taxpayer support measures, and the pre-pack admin, which got rid of the lease liabilities. As such, we now have a balance sheet in good shape, with net cash. Stores are profitable again, on a monthly run rate basis, but current year FY 3/2022 will obviously be pulled down somewhat by the poor first 2 months, before proper re-opening.I think the opportunity here is for strong growth, especially online, as occasionwear bounces back. That could trigger a re-rating of QUIZ shares up to maybe £40-60m market cap which is not at all demanding, when you look at valuations of Sosandar or InTheStyle.The founders still own about 50% of the business, and I'm told are fully committed to the turnaround. If they were going to take it private on the cheap, then it would have happened by now, surely?The opportunity with turnaround investments, is that people remain negative about a company because of things that went wrong in the past. But we're not buying the past, we're buying the future. Key changes here are the pre-pack administration that has reset costs downwards, and made the physical stores viable again. Some of the shopping centres QUIZ is in now has very little physical competition. Last man standing in some cases, who would have thought it?! Large numbers of women still want to try on clothes in a shop, rather than buy online. And of course the returns rate for physical shops is typically under 10%, compared with 40-60% online. So I think it's wrong to write off physical stores. If the rents are low, they're still viable.Regards, Paul. (I hold)

[come2papa] 16/11/2021 15:20

Black Friday Xmas Stores are open for business like for like Sales are going to explode this year Ist results are out next month along with black friday sales numbers no rocket science

[paulypilot] 13/11/2021 19:01

Very kind, thx jackson, I appreciate u posting that, its big of you.

[jackson83] 11/11/2021 03:06

Message for Paul Scott I have some good news after reading up on you & wish to apologise for my odd posts as was just bitter after my huge loss on koovs & failing to sell before 1am on 10th December when the Lord Alli scamed all shareholders ... ( wished I had taken note of what you said regarding koovs .. Paul was spot on ) when you have a huge loss its hard to sell as believed it would get funding ... taken me almost 2 years to build up new funds & its obvious from my posts it made me ill .... I respect Paul & won't be posting again best regards from James swift .. ps hope Paul continues to update on ADVFN ... my final post.

[glavey] 10/11/2021 20:54

Targetted flock arrived.
Buying? With an encouraged rise in the share price 'tis surely time to cash in.

Xmas brought forwards, time for a holiday.

[jackson83] 10/11/2021 20:21

WHY THE HUGE BUYING /RISE..
whats going on today ? PAUL SCOTT must be buying up the free stock lol

[mnomis] 10/11/2021 17:51

Thanks Paulypilot for the excellent posts (just seen now as holding without too much concern - was just seeing if any news for today's rise). Amazing how many complete muppets on these boards that post drivel to themselves as filtered by the sane. Some mental hospitals should get a banner up rather than just the trading banners.

Have not posted much here myself as don't have your deep insight, but the pre-pack was the green light for me to increase my holding and have been sitting tight since.

[boozey] 10/11/2021 16:09

Paddy here is hoping for a good outcome!

[someuwin] 10/11/2021 13:05

£22m - very cheap.

[paddygangster] 10/11/2021 12:53

We already know sales are already back up to pre pandemic levels Reset is done Worse is behind them Blue sky

[paddygangster] 10/11/2021 12:51

Results Definitely early December Remember 1st half ended at the end of September and they have always issued them in December apart from last year..So expecting like 4 like bumper results

[brummy_git] 10/11/2021 06:28

Professional investor Paul Scott of Stockopedia discussed QUIZ (starts 17:15) here

[boozey] 09/11/2021 23:32

Paddy, I think they are in back end of January/early February. Results were last mont. But I stand to be corrected on the former point. Maybe Paul Scott can enlighten us?...

[paddygangster] 09/11/2021 23:23

Cracking 1st half results should be out early December SP should start motoring big time we'll before the results