Fashion chain Quiz at risk as boss warns of “disappointing” sales

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Fashion chain Quiz at risk as boss warns of

Fashion chain Quiz at risk as boss warns of “disappointing” sales

Fashion retailer Quiz has warned the trade is suffering after a disappointing begin to the yr.

Bosses stated the chain has observed a “significant shortfall” in sales because the get started of 2019 – with in retailer earnings losing 11.1% between 1 January and 28 February.

As a consequence, the store admitted it was once compelled to use “higher than anticipated discounts” to transparent extra inventory leftover from Christmas and New Year.

Online sales jumped 16.2%, however this was once no longer sufficient to offset the high-street gloom and Quiz stated it now expects team underlying income of round £Four.five million for the entire yr.

gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw== - Fashion chain Quiz at risk as boss warns of "disappointing" sales
Quiz stated it was once compelled to scale back pieces additional than meant in its January sale
(Image: Burton Mail)

 

Quiz is now reviewing “all aspects” of the trade as it combats the harsh buying and selling prerequisites and unsure shopper backdrop.

Tarak Ramzan, leader government of Quiz, stated: “This has been a extremely disappointing buying and selling duration for the crowd.

“As a consequence, the board might be reviewing all sides of the trade over the approaching months to be sure that we will ship the crowd’s long-term attainable regardless of the converting shopper backdrop and difficult buying and selling prerequisites.”

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