THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Quiz makes progress on the renegotiation of store leases

Fashion retailer QUIZ has given an update on its efforts to renegotiate leases on its standalone stores. The new follows the retailer’s announcement in June that it would be restructuring its… View Article

FASHION RETAIL NEWS UK

Quiz makes progress on the renegotiation of store leases

Fashion retailer QUIZ has given an update on its efforts to renegotiate leases on its standalone stores.

The new follows the retailer’s announcement in June that it would be restructuring its store portfolio.

Prior to the restructuring, QUIZ operated 75 standalone stores in the UK  and to date has reopened 48 shops following the Covid-19 lockdown. The retailer is now aiming to reopen a total of 60.

Quiz said rental terms agreed for the reopened stores are in line with its targets and provide a flexible cost base going forward with rents payable mainly based on revenue rather than higher fixed rental arrangements. The average lease length on the stores is 24 months.

Giving a trading update for the five months to 31 August, Quiz said its business has taken a significant hit from the Covid-19 pandemic due to temporary store closures and the suspension of its online operations for two weeks in April .

During the period, the company extended its range of casual clothing following a decline in demand for occasion wear due to the ongoing restrictions on social events.

Total sales in the period dropped by 77% to £13 million as store sales and online sales declined by 89% and 54% respectively.

Subscribe For Retail News