AGM Trading Update
("QUIZ" or the "Group")
AGM Trading Update
Peter Cowgill, the Non-Executive Chairman of QUIZ, the omni-channel fast fashion brand, will provide the following trading update covering the financial year-to-date (the "Period") at the Group's AGM due to be held at 1pm today:
Group revenues during the Period are broadly in line with the same period last year (after adjusting for the unprofitable revenue streams which have been terminated during the year). The challenging trading conditions reported at the time of the Group's announcement on 11 June 2019 have persisted over the summer months.
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. The Group's performance has continued to benefit from sales growth through QUIZ's own websites.
Whilst trading conditions are expected to remain difficult, the Board continues to believe that, through the strength of QUIZ's flexible business model and increasing online focus, the Group can return to sustainable profitable growth in the medium term.
The Group intends to provide a further Trading Update with regards to the six-month period to 30 September 2019 on Friday 11 October 2019.
Via Hudson Sandler
Tarak Ramzan, Chief Executive Officer
Gerry Sweeney, Chief Financial Officer
Sheraz Ramzan, Chief Commercial Officer
(Nominated Adviser and Sole Broker)
Alina Vaskina / Joanna Langley (Corporate Finance)
Erik Anderson (Corporate Broking)
+44 (0) 207 886 2500
Hudson Sandler LLP (Public Relations)
+44 (0) 207 796 4133
Alex Brennan / Nelly Akpaka
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
QUIZ is an omni-channel fast fashion brand, specialising in occasion wear and dressy casual wear. QUIZ delivers a distinct proposition that empowers its fashion forward customers to stand out from the crowd.
QUIZ's buying and design teams constantly develop its own product lines, ensuring the latest glamorous looks at value prices. This fast, flexible supply chain, together with the winning formula of div, quality, value and speed-to-market has enabled QUIZ to grow rapidly into an international brand with more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 22 countries. The Group currently operates 73 standalone stores and 174 concessions in the UK.
QUIZ operates through an omni-channel, fast fashion business model, which encompasses online sales, standalone stores, concessions, international franchises and wholesale arrangements.
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