Like many businesses exposed to the tortuous UK high street, the share price of ‘omni-channel’ (who conjured up that ridiculous term) fast fashion retailer Quiz (AIM:QUIZ), has taken a beating over the past few months. Its October profit warning and collapse of House of Fraser (where it had concessions) certainly haven’t helped sentiment, but the stock market appears to have ignored Quiz’s rapidly growing online business. What’s more, the stores business isn’t quite as calamitous as the share price decline reflects.
Group sales rose 19% to £66.7m in the six months to September (announced earlier this week), driven by revenues from the online business – which now represent 30% of the total. Although revenue from UK stores and concessions increased only 9% to £35.1m, the group’s own website benefited from an 89% increase in active online customers, increased shopping frequencies and larger basked sizes which sent sales up 70%.
The current share price of 42.6p is 73% down on its…
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