(Alliance News) - Shares in Itim Group PLC rocketed on Tuesday, after it said it has won a contract with Quiz PLC.
Itim is a London-based software solutions provider to retailers. Its shares were up 93% to 35.00 pence each in London on Tuesday morning.
Meanwhile, shares in Quiz, Glasgow, Scotland-based fashion retailer, were down 2.3% to 5.62p.
Itim said it has won a five year "multi-million-pound" contract with Quiz.
It noted that Quiz is "the first fashion retailer in its customer portfolio to implement the end-to-end retail platform as well as its new wholesale module."
Under the contract, Quiz will use the platform to drive omni-channel customer journeys online, via an app and in store, alongside driving its core retail and wholesale businesses.
Chief Executive Ali Athar said: "We are delighted to have been selected by Quiz to work with them to enhance and expand their omni-channel capabilities. This important contract demonstrates the breadth and depth of our platform and our ability to add value in the highly customer-centric fashion sector."
Quiz also said it expects to provide a general trading update for 2023 "shortly."
By Sophie Rose, Alliance News senior reporter
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Itim Grou (ITIM)
Quiz (QUIZ)