Quiz sales drop after strong Black Friday
Fashion brand Quiz has said its sales have softened since Black Friday and dropped by 9.3% in the seven weeks to 4 January.
Online revenues through Quiz’s own websites rose by 5.9% in the period as trading was supported by improved full-price sell-through and less promotional activity than last year. However, overall online sales were down 14.8% after the retailer terminated unprofitable partnerships with some third party websites.
Meanwhile, sales in the retailer’s standalone stores and concessions fell by 7% following a drop in footfall.
Tarak Ramzan, Quiz chief executive, said: “Whilst the trading backdrop has remained challenging, it is disappointing to report a decline in revenues in the period.
Never Miss a Retail Update!“We have continued to make good progress in improving gross margins and reducing costs in line with the strategic priorities set out by the board last year
“We have a clear customer focus and a flexible model that the board continues to believe will enable Quiz to adapt to the changing retail environment and return to profitable growth in the medium-term.”
