Quiz Share Discussion Threads

[velocytongo] 19/9/2023 14:05

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.

[kemche] 19/9/2023 13:11

kemche5 Jul '23 - 09:28 - 1874 of 1888 Edit
0 0 0
Dire.

[catabrit] 19/9/2023 08:45

Ouch. Not totally unexpected though considering everything that’s happening with peers etc.

[hamidahamida] 19/9/2023 08:10

This management has delivered nothing but bad news since listing

[boonkoh] 19/9/2023 08:01

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.

[hamidahamida] 19/9/2023 07:26

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.

[falconscott] 06/9/2023 11:06

And you know this how?

[jackson83] 06/9/2023 09:10

WHEN IS THE DILUTION / FUNDING


?



MORE BAD NEWS SOON

[jackson83] 06/9/2023 09:09

cash is running low RED FLAGS



TIME TO SELL



5p soon

[jackson83] 22/8/2023 09:23

CASH HAS ALMOST RUN OUTB ? GET READY FOR DISCOUNTED FUNDING / DILUTION




TIME TO SELL ..


5p soon

[jackson83] 21/8/2023 07:37

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

[jackson83] 18/7/2023 00:06

Opportunity to SELL TODAY AT 8AM ONWARDS

[jackson83] 17/7/2023 23:48

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

[millennialinvestor] 17/7/2023 16:38

who knows but got to be worth a cheeky long at these levels?

[scepticalinvestor] 17/7/2023 16:17

2p fair value?

[darrin1471] 16/7/2023 17:56

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.

[serratia] 16/7/2023 13:09

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.

[serratia] 07/7/2023 12:50

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.

[gdjs100] 05/7/2023 19:00

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.

[heng heng] 05/7/2023 18:27

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.

[millennialinvestor] 05/7/2023 10:39

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."

[gdjs100] 05/7/2023 09:41

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.