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Quiz continues to experience tough trading

Quiz has said it remains confident in achieving its market expectations for its full year despite a drop in Christmas sales. The fashion retailer has announced… View Article

FASHION RETAIL NEWS UK

Quiz continues to experience tough trading

Quiz has said it remains confident in achieving its market expectations for its full year despite a drop in Christmas sales.

The fashion retailer has announced that sales from 1 to 31 December declined by 11% year-on-year to £8.7 million.

Quiz said in a trading update: “This reduction reflects the negative impact of inflationary pressures on consumer demand which resulted in declines in traffic both in-store and online offsetting consistent year-on-year trends in key metrics such as conversion rates and average transaction values. The gross margin performance was consistent year-on-year.”

Quiz announced in its interim results in December that its board is conducting a review of the strategic options available to the group. At the time, it reported that its first half revenue had declined by 14% to £42.3 million after cost of living pressures impacted demand for its dressy occasionwear.

It will report on the findings of the review by the end of March.

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