QUIZ returns to profit
Women’s fashion retailer QUIZ has returned to full year profit after the lifting of Covid-19 restrictions led to increased demand for its occasion wear.
In the year to 31 March, the company posted an underlying pre-tax profit of £0.8 million compared to a loss of £9.6 million in the prior year.
Meanwhile revenue growth was strong with an uplift of 97% to £74.8 million. In addition, the retailer grew its number of active customers by 74% and saw a recovery in its international revenues, which were up 96% in the period.
Tarak Ramzan, founder and chief executive of QUIZ, said: “The group delivered a very encouraging FY 2022 performance with very strong revenue growth and a return to profitability.
“This outcome reflects increased demand for QUIZ’s product offering and was supported by the decisive actions we have taken in recent years to transform the business and successfully leverage the group’s omnichannel model and infrastructure.”
QUIZ said revenues in the three months to 30 June climbed by 62% on the prior year.
Ramzan added: “Whilst there are significant levels of uncertainty impacting the consumer right now, we are confident that QUIZ is well positioned to continue to deliver against its strategy and drive long-term, sustainable and profitable growth.”
