Shares in women’s fashion retailer Quiz have halved after the company issued another profit warning following a “significant shortfall” in sales.

Sales at the company’s 240 UK stores and concessions fell 11.1% in the first two months of the year.,

Quiz chief executive Tarak Ramzan said “all aspects of the business” were being reviewed.

Full-year profits are set to be £4.5m, verses £8.2m expected previously.

It made that previous estimate in January, when it downgraded its forecast of £11.5m made in October.

It shares – which were listed in July 2018 – fell 50% to 15p after the latest profits warning. They have fallen

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