Quiz expects return to profit despite tough summer trading
Fashion retailer Quiz has said it expects to return to profitable growth in the medium term, despite reporting tough trading over the summer months.
In a trading update issued this morning, Quiz chairman Peter Cowgill said that the “challenging trading conditions reported” at the time of the retailer’s last update in June had “persisted over the summer months”.
He also said that “consistent with the widely reported conditions on the UK high street” the retailer had seen a “reduction in-store footfall during the period compared to the previous year”.
At its most recent update for the year to March 31, Quiz reported a 97% slide in pre-tax profits to £0.2m, when sales rose 12% to £130.8m.
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