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Home » UK Shares » Three Quick Facts » Three Quick Facts: ASOS, QUIZ and Westminster Group

Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

ASOS

There’s news this morning of an interesting JV between fast fashion specialists ASOS [LON:ASC] and US-based multi-channel retailer Nordstrom. The latter is investing for a minority stake in the Topshop, Topman Miss Selfridge and HIIT brands, in a move which is designed to increase penetration into the North America market. Nordstrom has legacy ties to Topshop in the US market, so hopes will be that this symbiotic deal will power growth for the entire ASOS proposition.

QUIZ

Keeping with fashion and QUIZ [LON:QUIZ], the omnichannel fashion brand has this morning published results for the quarter ending June 30th. This offers a clear illustration as to just how badly hit the company was by COVID-related trading restrictions, with sales of £17.2m being recorded for the period, up from £4.2m in the previous year. The company hopes that further easing of restrictions will continue to bolster sales as consumers have more need to buy new clothes. 2019 comparatives aren’t readily available, but to give some context, sales for April-August 2019 came it at £55.2m so there’s still some way to go.

Westminster Group

Westminster Group [LON:WSG] is an AIM listed provider of managed security services to a range of customers. A notice to the market this morning advises that they have been awarded a contract to supply security services to help protect the Tower of London. Precise details of the win are being withheld on security grounds, but it’s certainly a flagship deal for the company to add to its portfolio, which also includes the supply of security screening equipment to the Houses of Parliament.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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