One clothing retailer that’s not proved a fashionable investment as some of its peers Quiz PLC (LON:QUIZ), which is scheduled to post a trading update on Friday, a month after discussing “difficult” market conditions at its AGM.
The womenswear brand said the period between April and August reported revenues “broadly in line” with last year, after adjusting for the closure of stores and terminations of third-party online contracts.
Group revenue for the six months to September 2018 was £66.7mln, up 19% year-on-year, although full-year revenue of £130.9mln was behind expectations.
The AIM-listed firm, which in its last full year was more reliant on its shops than online sales, ended up scrapping its final dividend in June as full-year pre-tax profit almost halved due to costs related to the collapse of House of Fraser and an increased level of discounting.
Consumer uncertainty continues to loom over the outlook, with analysts expecting flat earnings performance for 2020 and suggesting stability as the main goal.
Significant announcements expected on Friday 11 October:
Economic data: German CPI, US Michigan confidence index