Quiz PLC (LON:QUIZ) has instigated a programme of cost cuts to offset the challenging times in the UK retail industry.
Between £2mln and £3mln of gross savings are planned with the focus to switch to the online business.
READ: Quiz scraps dividend after House of Fraser collapse and discounting hit profits
Sales in the first half to September dropped 5% to £63.3mln.
Online revenues rose 7% to £20mln but concessions fared worse than expected and sales slumped 11% at the UK standalone stores.
Quiz added most of these stores are rented on relatively short leases and it will assess how each is performing as and when they come up for renewal.
Net cash at the end of the period was £7.1mln, down 43% year-on-year.
Shares dropped 3% to 16p in morning trading.