Quiz full year revenue up 12%
Fast fashion brand Quiz has increased its full year group revenue by 12% to £130.9 million as it continues to expand both online and internationally.
Following its trading update issued on 7 March, the company said it still expects its group EBITDA for the year to come in at around £4.5 million.
The retailer saw a 34% uplift in online revenue in the period which came from sales made through its own websites and third-party websites. Revenue generated from the retailer’s own websites climbed by 58% during the year following an increase in spending on marketing.
During the year, Quiz opened three new standalone stores and relocated two stores into larger units. In addition, two stores were closed in the period.
The retailer operates 108 Debenhams concessions in the UK and 11 in the Republic of Ireland. It also sells its products on the department store’s website. Revenues from these activities accounted for 23% of Quiz’s full year revenue.
Regarding this week’s news of Debenhams entering administration, Quiz said: “The underlying operating companies continue to trade as normal with suppliers expected to be unaffected. We look forward to continuing to work productively with Debenhams going forward.”
Quiz has previoulsy announced that it is reviewing all aspects of the business as it looks to mitigate the effects of slower than anticipated growth. It will report on the review’s findings when it reports on its final results in June.
