4th Sep 2019 11:14
(Alliance News) - Fashion retailer Quiz PLC on Wednesday said "challenging" trading conditions have persisted, with store footfall on the UK High Street continuing to decline.
Speaking at Quiz's annual general meeting on Wednesday, Non-Executive Director Peter Cowgill said revenue growth since the start of April has been broadly flat year-on-year.
Trading conditions reported at the time of annual results for the year ended March, on June 11, have persisted, consistent with poor conditions on the UK High Street.
However, Quiz did say performance has been helped from sales growth through online channels.
Cowgill added: "Whilst trading conditions are expected to remain difficult, the board continues to believe that, through the strength of Quiz's flexible business model and increasing online focus, the group can return to sustainable profitable growth in the medium term."
Quiz will be released a trading update for the six months to September on October 11. Shares were 14% lower on Wednesday at 16.00 pence each.
In the year to March, Quiz barely managed a profit despite a 12% rise in revenue to GBP130.9 million.
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