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Few questions for bosses as Quiz bucks retail doom and gloom

Ahead of today’s AGM, Quiz published a trading update which detailed growth across all of its channels and confirmed it is on track to meet market forecasts this year

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Quiz expects to take a £0.4mln hit from the recent collapse of House of Fraser

There are likely to be few tricky questions for Quiz PLC’s (LON:QUIZ) management at the annual general meeting later today after the fast fashion group released a solid trading update.

In stark contrast to a lot of UK retailers, Quiz stores have “performed well” so far this year, despite the softening of footfall seen in April.

READ: QUIZ revenues boosted by “outstanding online momentum”

The AIM-quoted firm is also ploughing more cash into its physical stores: it has opened two new sites – Bluewater in Kent and Oxford – this year, with plans to open more shops should the right opportunities present themselves.

Bosses said they were “pleased” with the performance so far this year as Quiz reported continued growth across all of its channels, boosted by a positive customer response to its summer ranges.

“Despite an uncertain trading environment, we believe that the group remains well positioned for continued strong growth,” chairman Peter Cowgill will tell shareholders at the AGM.

“At this stage, and with important trading periods in the second half of the financial year still to come, the board remains confident that QUIZ is on track to deliver market expectations for the full year.”

Perhaps the only black spot on an otherwise strong update was the £0.4mln hit from the collapse of department store chain House of Fraser, in which Quiz operated 11 in-store concessions and sold products through its website.

Quiz shares were unchanged at 167.5p on Wednesday morning.

Quick facts: Quiz PLC

Price: 6.85 GBX

AIM:QUIZ
Market: AIM
Market Cap: £8.51 m
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