Quiz PLC (AIM:QUIZ) shares dipped 15% to 5.9p early on Tuesday in response to the fashion brand’s interim results.
Group revenues decreased 14% year on year to £42.3 million, with losses before tax ramping up and net cash reducing significantly.
“The widely reported cost of living and inflationary pressures have impacted customer demand during the financial year. As a result, the near-term outlook is difficult to predict for many UK retailers including Quiz,” said the group.
In conjunction with the interim report, Quiz announced a “thorough review” of the strategic options available “to maximise shareholder value”, to be led by independent chairman Peter Cowgill.
The group will report the findings of this review in the first quarter of 2024.