Quiz delivers growth despite ‘challenging’ market
Fast fashion retailer Quiz has reported that its first half group revenue increased by 19% to £66.7 million year-on-year after the company achieved growth across all of its channels.
In the six months to 30 September, revenue from UK stores and concessions rose by 9% to £35.1 million while online revenue climbed by 44% to £20 million. International sales rose by 16% to £11.6 million.
Meanwhile, EBITDA increased by 11% to £5.6 million while pre-tax profit was up 4% to £3.8 million.
Tarak Ramzan, Quiz founder and chief executive, said: “Quiz has continued to deliver good revenue growth in the first half of the financial year despite challenging external market conditions. This performance was driven by further expansion across each of the brand’s distribution channels with particularly strong sales generated online through Quiz’s websites.”
During the period Quiz launched a second collaboration with TV programme TOWIE, which was supported by its first ever national TV advertising campaign. It also launched a new menswear collection called Quizman.
In addition, the retailer opened two new stores and 13 concessions.
Ramzan added: “Quiz has a clear customer focus, a proven “test and repeat” model and a dedicated management team. With these strengths, and despite a challenging market environment, the board believes the group is well positioned to deliver long-term profitable growth.”
