Fashion Brand Quiz Warns of Lower Revenues Amidst Uncertainty
- Quiz issues profit warning despite 8.4% increase in group revenue
- Revenue forecasts revised due to uncertain consumer demand
- Group online revenue up 34.1%, website revenue up 50.8%
- UK standalone stores and concessions revenue up 1.6%
- Three new stores opened, two relocated in FY 2019
- EBITDA expected to be around £8.2m for FY 2019
- CEO Tarak Ramzan remains confident in Quiz’s long-term potential
Fashion brand Quiz has issued a profit warning despite an 8.4% increase in group revenue for the six-week period from 25 November 2018 to 5 January 2019 compared to the previous year. The company now anticipates revenues for FY 2019 will be lower than current market expectations at approximately £133m due to higher-than-anticipated discounting to clear inventory and uncertain consumer demand. Quiz’s online revenue increased by 34.1%, with website revenue up 50.8%. UK standalone stores and concessions saw a 1.6% increase in revenue, while three new stores were opened and two relocated during FY 2019. The board predicts EBITDA (excluding a £0.4m debt write-off from House of Fraser administration) will be around £8.2m for the year. CEO Tarak Ramzan remains confident in Quiz’s long-term potential as an omni-channel fashion brand.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Quiz’s financial performance during the six-week period from 25 November 2018 to 5 January 2019, including revenue growth and store performance. It also includes a statement from the CEO expressing confidence in the brand’s long-term potential.
Noise Level: 2
Noise Justification: The article provides relevant information about Quiz’s financial performance during the Christmas period, including revenue growth and EBITDA forecasts. It also includes insights from the CEO on the company’s long-term potential. The content is focused on the topic and supports its claims with specific numbers and figures.
Financial Relevance: Yes
Financial Markets Impacted: Quiz, a fashion brand’s financial performance impacts its stock price and investor sentiment.
Financial Rating Justification: The article discusses Quiz’s profit warning and revised revenue forecasts for the year to 31 March 2019, which can affect the company’s stock price and investor confidence.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.
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