Quiz posts strong festive sales growth
Fashion retailer Quiz has posted strong Christmas trading results with total sales rising by 20% to £8.8 million in the month of December.
While sales in UK stores and concessions climbed by 64% year-on-year to £5.2 million, online sales amounted to £2.1 million following a 26% decline. The reduction followed the termination of certain third-party partnerships during the financial year, although sales through Quiz’s own websites were consistent with the previous 12-month period.
Meanwhile Quiz’s international business, which comprises franchise partners and five stores and 15 concessions in Ireland, increased its sales by 11%.
Quiz said like-for-like revenues were broadly consistent with sales generated in the same period two years ago, prior to the pandemic.
Commenting on the results, the company said: “The board was pleased with the performance achieved in the period given the challenging trading conditions, notably the widespread cancellation of social events and the introduction of formal restrictions on social activities in Scotland, Wales, and across Ireland following the continued rise in Covid-19 cases throughout December.
“For the same reason, footfall during the second half of the period was also notably reduced. This impacted demand for, and increased customers’ returns of, Quiz’s partywear products in the second half of the period.”
The results meant that revenues in the nine months to 31 December 2021 rose by 88% to £61 million.
