UK’s Quiz warns on annual revenue after tepid Black Friday sales

Date:

Dec 5 (Reuters) – UK clothing retailer Quiz
said on Tuesday its annual revenue would be about 6%-8% lower
than market estimates, citing weaker-than-expected Black Friday
sales and tepid consumer demand amid a cost-of-living squeeze.

For the year ended March 31, 2024, analysts on average
expect the group to post revenues of 86.4 million pounds
($109.00 million), according a company-compiled consensus.

The firm, which specializes in occasion and casual party
wear, said it has decided to launch a strategic review of the
business led by non-Executive Chairman Peter Cowgill, who was
ousted from sportswear giant JD Sports in 2022.

($1 = 0.7926 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Rashmi Aich)

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