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Quiz posts strong full year sales increase

Women’s fashion retailer Quiz saw its group revenue increase by 17% to £91.7 million in the year to 31 March after it benefited from more customers… View Article

FASHION RETAIL NEWS UK

Quiz posts strong full year sales increase

Women’s fashion retailer Quiz saw its group revenue increase by 17% to £91.7 million in the year to 31 March after it benefited from more customers visiting its stores.

Sales in UK stores and concessions climbed by 43% to £45.5 million in the period while online sales rose by 12% to £29.8 million.

Meanwhile, international sales increased by 10%.

The retailer said the year’s pre-tax profit is expected to be at least £2 million compared to £800,00 in the prior year. 

Tarak Ramzan, chief executive of Quiz, said: “The group delivered a good performance in FY23 achieving revenue growth across each of its channels reflecting the strength of Quiz’s trademark dressy and occasion wear product offering.

“This outcome, which was achieved despite the challenging market backdrop in recent months, is a strong testament to our flexible model and differentiated brand.”

However, the retailer’s like-for-like revenues in February and March 2023 were lower than in the previous year which it attributed to  the impact of inflation on consumer confidence.

Ramzan added: “Whilst the external trading environment is expected to remain challenging in the near term, we remain highly confident in the group’s long-term prospects.”

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