Quiz PLC (AIM:QUIZ) shares shed 50% of their value on Friday on news the omnichannel fashion firm may need further funding after a slump in retail footfall hit sales recently.
Shares dropped 50.7% to 2.64p in the wake of the update, where Quiz pointed to a “marked decline” in both online and in-store traffic through November.
Revenue for its latest quarter was down £1.5 million at £24.9 million as a result, with sales in the eight months to November dropping 8.6% to £52.2 million and undershooting expectations.
Additional funding would likely be needed in early 2025 in “the absence of a material improvement to trading during the important pre-and-post-Christmas period,” Quiz said.