QUIZ saw its share price plunge nearly 30 per cent in morning trading after it said Christmas sales were below expectations.

And the Glasgow-based “fast fashion” retailer has revised down its revenue expectations for the full year, citing continued uncertainty over customer demand. Quiz said underlying earnings would be about £8.2 million for the full year, with revenue set to fall short of market expectations at around £133 million.

In an update for the six weeks to January 5, Quiz said revenue was up 8.4 per cent on the same time last year. This marked a slowdown on last year's 31.9% growth, despite higher than expected discounting.

Suits specialist Moss Bros is still bracing for an annual loss but said total sales are improving thanks to strong online growth.

The retailer's total sales for the 23 weeks to January 5 were up 0.6 per cent, with the most recent 10 weeks showing improved growth of 3.8%.

However this came at the expense of margins due to deeper-than-planned discounting during the lull after Black Friday.

AO World's sales were boosted by the much-hyped Black Friday as the online electrical retailer backed its full-year expectations.

The company, which sells households appliances such as washing machines and televisions, posted an 8.2 per cent rise in revenue growth for the third quarter ended December 31 after a record number of customers took advantage of the sales event in the UK.

Black Friday began in the US but has quickly become a staple of the British retail landscape, with firms stretching promotional discounts across nearly two weeks.

AO World, which has its headquarters in Bolton, said offering Black Friday deals over a longer period in November was well-received by customers and improved margins, contributing 4.4% of revenue growth for the UK business.