UK: Retailer QS Pinched By Tough Value Sector
At the same time, an operating loss of £1.94m was recorded, compared with a profit of £280,000 in the comparable period last year.
In a statement to shareholders, chairman Tony Dignum said: "The second half has begun with like for like sales for the 8 weeks to 22 September 2001 showing an increase of 0.75 per cent. The full year outcome will depend on the important run-up to Christmas." He added that the company had been through a tough trading period, and the UK value sector remains intensely competitive.
On 10th September the Board announced that QS Group is in discussions with a potential buyer.
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