Quiz on track for full year
Women’s fashion retailer Quiz has said it is pleased with its performance in the financial year to date and is confident that it will meet market expectations for the full year.
In statement ahead of its AGM, the company said it has seen growth across all channels and that its product range has been well received by customers.
The retailer’s UK stores and concessions performed well in the period despite weaker footfall in April. In addition, Quiz opened new stores at Bluewater and Oxford and is looking for further opportunities to expand its store estate.
Quiz has been operating 11 House of Fraser concessions and selling its products through the department store’s website. Due to House of Fraser's collapse into administration and subsequent purchase by Sports Direct, Quiz is now expecting to provide £0.4 million in the six months to 30 September to cover outstanding debtor balances and other potential costs.
The retailer said it is continuing to invest in its websites and apps. In line with strategy, it is now generating stronger growth through its own websites compared to third-party sites.
Looking ahead, Quiz chairman Peter Cowgill said in his pre-AGM note: “Despite an uncertain trading environment, we believe that the group, underpinned by the strength of the Quiz brand as well as its flexible, omnichannel model, remains well positioned for continued strong growth.
“At this stage, and with important trading periods in the second half of the financial year still to come, the board remains confident that Quiz is on track to deliver market expectations for the full year."
The retailer said its international business is continuing to grow in line with expectations.
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