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Quiz PLC (QUIZ)

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Wednesday 05 September, 2018

Quiz PLC

AGM Trading Update

RNS Number : 7683Z
Quiz PLC
05 September 2018
 

 

 

 

 

QUIZ Plc

 

("QUIZ" or the "Group")

 

AGM Trading Update

 

Peter Cowgill, Non-Executive Chairman of QUIZ, the omni-channel fast fashion brand, will make the following trading statement covering the financial year to date (the "period") to shareholders attending its Annual General Meeting ("AGM") today:

 

The Board is pleased with the Group's performance during the period which shows continued growth across each of our channels. The Board is also particularly pleased with the positive customer response to QUIZ's product range over the summer.  

 

We continue to focus on maximising the QUIZ brand's online potential by investing in our websites' and apps' on-going development as well as effective marketing activity. In line with our strategy and as anticipated, we are now generating stronger growth through QUIZ's own websites compared to third-party websites, which experienced exceptional growth last year following the launch of partnerships with Zalando and Next.

 

Our UK stores and concessions have performed well during the year to date despite the previously reported softening of footfall during April.  We have opened two new standalone stores during the period (Bluewater shopping centre in Kent and Oxford) and we continue to review opportunities for further expansion of the store estate in line with our strict internal return-on-investment criteria.  Both stores have performed encouragingly since opening. As part of our active management of our retail portfolio, we closed one store during the period.

 

QUIZ has historically operated 11 House of Fraser concessions and sold its products through the House of Fraser website.  Further to House of Fraser's entry into administration and the selective acquisition of assets by Sports Direct International plc, the Group is expecting to provide £0.4 million in the six months to 30 September 2018 in relation to outstanding debtor balances and other potential costs.

 

Our international business has continued to grow and develop in line with our expectations.

 

Despite an uncertain trading environment, we believe that the Group, underpinned by the strength of the QUIZ brand as well as its flexible, omni-channel model, remains well positioned for continued strong growth. 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.

 

The Group will provide a Trading Update with regards to the six months to 30 September 2018 on 11 October 2018 and will announce its Interim Results during late November 2018.

 

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Market abuse regulation

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

 

Enquiries:

QUIZ plc

Via Hudson Sandler

Tarak Ramzan, Chief Executive Officer

Gerry Sweeney, Chief Financial Officer

Sheraz Ramzan, Chief Commercial Officer

 

 

 

Panmure Gordon

(Nominated Adviser and Sole Broker)

Ben Thorne / Alina Vaskina / Atholl Tweedie (Corporate Finance)

 

Erik Anderson (Corporate Broking)

 

+44 (0) 207 886 2500

Hudson Sandler LLP (Public Relations)

+44 (0) 207 796 4133

Alex Brennan / Sophie Lister / Nelly Akpaka

 

[email protected]

 

About QUIZ

 

QUIZ is an omni-channel fast fashion brand, specialising in occasion wear and dressy casual wear.

 

QUIZ delivers a distinct proposition that empowers its fashion forward customers to stand out from the crowd.

 

QUIZ's buying and design teams constantly develop its own product lines, ensuring the latest glamorous looks at value prices. This fast, flexible supply chain, together with the winning formula of style, quality, value and speed-to-market has enabled QUIZ to grow rapidly into an international brand with more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 20 countries. The Group currently operates 71 standalone stores and 158 concessions in the UK. 

 

QUIZ operates through an omni-channel, fast fashion business model, which encompasses online sales, standalone stores, concessions, international franchises and wholesale arrangements. 

 

To download images please visit: http://www.quizgroup.co.uk/media-download-centre/

 

For further information:

https://www.quizclothing.co.uk/

http://www.quizgroup.co.uk/

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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