Retailer Quiz to update ahead of festive sales period

Glasgow-based fast fashion chain Quiz will update on current trading ahead of the key festive period when it reports interim figures next week.

The Scottish business saw UK high street sales fall sharply in the first half of the financial year. Picture: Contributed

In October the group warned that trading conditions on the UK high street had remained “very challenging”.

A double-digit sales slump at its UK stores in the six months to 30 September saw overall revenue fall by 5 per cent to £63.3 million.

However, online sales grew by 7 per cent to £20m and the group said it had continued to see “solid growth” through its own websites on the back of significant investment.

International sales increased by 3 per cent to £12m, reflecting growth in revenue from franchise operations and its Spanish stores.

At the time of October’s update chief executive Tarak Ramzan said the group was focused on improving the performance of its physical stores.

Quiz’s share price is now around a tenth of what it was when it floated in July 2017.