REG - Quiz PLC - Christmas Trading Update

QuizAnnouncement

23/01/2024 07:00

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RNS Number : 5307A  Quiz PLC  23 January 2024

 

 

23 January 2024

QUIZ Group Plc

("QUIZ" or the "Group")

 

Christmas Trading Update

 

Further to the Group's Interim Results on 5 December 2023, QUIZ, the
omni-channel fashion brand, provides an update on trading for the period
between 1 December 2023 to 31 December 2023 ("the Period") and its current
cash position.

Trading Update

Consistent with the trends experienced in previous months, as outlined in the
Interim Results, Group sales in the Period decreased 11%, or £1.1m, year on
year to £8.7m. 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.

The Board remains confident in achieving current market expectations for the
Full Year.

Cash Position

As at 22 January 2024, the Group had total liquidity headroom of £5.4
million, being a cash balance of £2.0 million and £3.4 million of undrawn
bank facilities (31 March 2023: £8.3 million, being cash net of borrowings of
£6.2 million and £2.1 million of unutilised bank facilities). The Group's
£4.0m of bank facilities available will expire in June 2024. There are no
financial covenants applicable to these facilities.

As announced as its Interim Results, the Board is progressing its review of
the strategic options available to the Group and intends to report the
findings from this review by the end of March 2024.

Enquiries:

 

 QUIZ plc                                  Via Hudson Sandler
 Tarak Ramzan, Chief Executive Officer

 Gerry Sweeney, Chief Financial Officer

 Sheraz Ramzan, Chief Commercial Officer

 Panmure Gordon                            +44 (0) 207 886 2500

 (Nominated Adviser and Sole Broker)

 Emma Earl

 Rupert Dearden

 Hudson Sandler LLP (Public Relations)     +44 (0) 207 796 4133
 Alex Brennan                              quiz@hudsonsandler.com (mailto:quiz@hudsonsandler.com)

 Emily Brooker

 

Notes:

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").

 

About QUIZ:

QUIZ is an omni-channel 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 stores, concessions, franchise stores, wholesale partners and
international online partners.

 

QUIZ operates through an omni-channel 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/
(http://www.quizgroup.co.uk/media-download-centre/)

For further information:

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

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

 

 

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