Quiz, the multichannel fashion retailer that floated last year, has issued a profits warning.

Quiz said lower than expected sales through third parties, the performance of its own shops and concessions, and the impact of House of Fraser’s demise would hit first-half EBITDA expectations to the tune of £1.5m. The retailer will make “not less than” £5.5m however.

Quiz also reported it has “taken the prudent assumption that should the trend in online third-party sales continue during the second half of the financial year”, full-year group revenue will be lower than the market was expecting.

Group revenue is likely to come in at about ÂŁ138m and EBITDA will be approximately ÂŁ11.5m.

Chief executive Tarak Ramzan maintained: “Quiz has delivered further good growth during the period despite challenging external trading conditions.

“Although online sales through our third-party partners have been disappointing and will impact the group’s performance for the full year, the changing mix towards increased own-website sales will support profitability growth moving forward.”

Sales at Quiz’s UK stores and concessions were up 9%, online up 44% and international up 16%, resulting in total growth of 19% to £66.7m.

Quiz followed in the footsteps of fellow listed market newcomer Footasylum, which also issued a profit warning last month.

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