QS slides into loss
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Unseasonal weather and weak consumer demand took its toll on another high street retailer yesterday when QS Holdings, a cut-price clothing group, warned that a trading loss and stock write-down would push the company into loss.
QS shares slumped 28 per cent to 86p on the warning that it would make a loss of pounds 750,000 in the first half compared to profits of pounds 2.11m last year.
QS, which has 107 stores, principally in the South-east, said that sales in February and March had been disappointing but that an improvement in April was not sustained. Like other retailers, QS says colder than normal weather in the early part of the summer meant lower sales. Excess stock is now having to be cleared at knockdown prices.
QS - which used to be known as Quality Seconds but no longer stocks remaindered goods - says new ranges have been tested with some success. The Fitch design company has been commissioned to give the stores a new look, expected to roll out next year.
The company said it expected to declare an unchanged interim dividend but would review its payout depending on trading.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments