Quiz heads into Christmas with good momentum
Quiz has reported a “very good” performance in the first half of the financial year with strong growth delivered across each of the brand’s distribution channels, most notably online and international. The fast fashion womenswear retailer, which made its stock market debut at the end of July with a £245 million valuation, achieved a 35.2% increase in group revenue to £56.1 million in the half year ending 30th September.
Online revenue was up 204.6% at £13.8 million, while revenue from UK stores increased by 15.2% at £32.2 million. Underlying international sales rose by 26.1% to £10 million. “The Group’s strong performance is a reflection of the growing awareness of the Quiz brand and increasing demand for our products that offer the latest glamorous looks and occasion wear at great value,” says Tarak Ramzan, Founder and CEO. “Current trading has remained strong since the period end and, underpinned by our strong collections, the Group enters the important Christmas trading period with good momentum. The Board remains confident of delivering growth across all channels for the full year.”
Quiz operates more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 20 countries. It is gearing up to add five new stores and seven concessions in the UK and has also opened its first standalone stores outside of the UK and Ireland with three outlets in Spain.