Retailer Quiz Expects Significant Drop in March Results

  • Fashion retailer Quiz warns of lower revenues and margins in March
  • Quiz closed all physical stores ahead of lockdown announcement
  • Year-to-date performance was in line with expectations before Covid-19 outbreak

Fashion retailer Quiz has warned that its revenues and margins for March are expected to be significantly lower than the board’s expectations due to the coronavirus pandemic. Prior to the outbreak, the company’s year-to-date performance was on track with expectations. Since the beginning of March, there has been a substantial reduction in both in-store traffic and online sales. Quiz made the decision to close all its physical stores and concessions on March 22nd, before the lockdown announcement by Boris Johnson, to prioritize the health and wellbeing of staff and customers. Due to the uncertainty surrounding the Covid-19 outbreak’s duration, the board is unable to provide guidance for the year ending March 31, 2021. The company is taking measures to preserve cash by cutting non-essential spending, postponing capital projects, and deferring payments wherever possible.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Quiz’s financial performance and the impact of Covid-19 on their business without any sensationalism or irrelevant details.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of the coronavirus pandemic on a specific company’s financial performance but lacks in-depth analysis or exploration of broader implications.
Financial Relevance: Yes
Financial Markets Impacted: Quiz’s revenues and margins
Financial Rating Justification: The article discusses the impact of the coronavirus pandemic on Quiz, a fashion retailer, which affects its financial performance and decisions related to cash preservation and stock intakes. This is relevant to financial topics as it involves company revenue and financial management.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk