Quiz PLC (AIM:QUIZ) shares tumbled almost 40% as the fashion retailer warned that revenues are worse than expected and unlikely to meet full-year expectations.
In the five months to 31 August 2023, revenues dropped 15.3% to £37 million and should this trend continue during the second half, revenue for the 2024 financial year would be around 6-7% lower than current market expectations, it said.
At that level of sales, Quiz would post a loss of up to £1.5 million compared to a £2.3 million profit in full-year 2023.
As of 19 September, the group operated 64 stores and 61 concessions.
Shares fell 3.5p to 5.35p.