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Quiz PLC - Glasgow, Scotland-based fashion retailer - Sales in the key shopping month of December are down 11% from a year before to GBP8.7 million from GBP9.8 million. "This reduction reflects the negative impact of inflationary pressures on consumer demand which resulted in declines in traffic both in-store and online," Quiz says.
However, it points to positive trends in conversion rates and average transactions values, while saying gross margin was consistent with December 2022. Quiz still expects to meet market expectations for its full financial year, which ends on March 31.
Quiz says it is progressing the review of its "strategic options" announced at the time of its interim results in early December. In those results, Quiz swung to a pretax loss of GBP1.5 million in the six months ended September 30 from a profit of GBP1.8 million a year before.
Quiz notes it currently has GBP5.4 million in total liquidity headroom, consisting of GBP2.0 million in cash and GBP3.4 million in undrawn bank facilities.
Current stock price: 5.59 pence
12-month change: down 66%
By Tom Waite, Alliance News editor
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