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Quiz posts uplift in sales and profit

Quiz has increased its revenue by 30% to £116.4 million in the year to 31 March after seeing strong growth across all of its channels.

FASHION

Quiz posts uplift in sales and profit

Quiz has increased its revenue by 30% to £116.4 million in the year to 31 March after seeing strong growth across all of its channels.

While online revenue climbed by 158% to £30.6 million, revenue from UK stores and concessions rose by 12% to £64.6 million.

Meanwhile, pre-tax profit edged up to £8.5 million from £8.1 million in the previous year.

Tarak Ramzan, Quiz founder and chief executive, said:”We are pleased to report a very good performance for the Quiz brand during the year with excellent progress achieved from our omnichannel growth strategy. The brand has continued to deliver rapid growth online, with revenues up 158% year on year, as well as strong growth in international target markets and across our UK store and concession estate.”

During the year Quiz launched its first international partnership by working with Zalando. It also introduced a local language website in Spain and opened three standalone stores in the country. In addition, it continued to expand across the UK with five new stores and six concessions.

Other new initiatives included the launches of Curve and Bridal ranges as well as a collection for men called Quiz Man.

Ramzan said: “With our attractive customer offer, well-invested infrastructure and omnichannel business model with the flexibility to increase investment in higher return areas, Quiz is well positioned to deliver strong growth in the year ahead in-line with the board’s expectations.”

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