Fashion retailer Quiz has seen its share price plummet by 50% after its latest profit warning.

The retailer issued the warning after a "significant shortfall" in sales, in which it saw them drop 11%.

Profits are now expected to be in the region of £4.5 million, compared with the £8.2m previously forecast in January. That estimate came after Quiz initially scrapped October's forecast of £11.5m.

Tarak Ramzan, chief executive of Quiz, said "all aspects of the business" were under review.

The latest profit warning caused its share price to drop 50% to just 15p. Quiz listed in July 2018 when its share price was 150p.

Mr Ramzan said: "Whilst the board remains confident in the strength and appeal of the Quiz brand, as demonstrated by our continued sales growth online, this has been a highly disappointing trading period for the group".

It is another High Street retailer struggling in the current climate. Quiz said its online revenues were up 16.2% for the period following Christmas, but a fall in High Street revenues meant it fell 1.7% overall for the period.