Quiz’s festive sales boosted by strong demand for occasion wear
Quiz grew its total sales by 11% to £9.8 million in the month of December after it benefited from strong demand from customers for occasion wear.
The uplift helped offset slightly weaker than expected sales in the weeks prior to the period and contributed to a 3% increase in revenues in the three months to 31 December 2022.
The improved trading meant that Quiz’s group revenues rose by 23% in the nine months to 31 December to £75.2 million.
Quiz said sales growth in the Christmas period was driven by a 19% increase in sales across its UK store and concession portfolio.
However, online revenue decreased by 14% following a decline in sales through third-party websites, although sales through Quiz’s own online offering were consistent with the previous year
International revenues, which comprise five stores and 18 concessions in Ireland, as well as international franchise partners, climbed by 20% to £1.8 million in the period.
Tarak Ramzan, chief executive of Quiz, said: “We are pleased with the strong consumer demand for Quiz and the group’s sales performance during the important Christmas trading period. This again reflected the benefits of our omnichannel model as well as the Quiz brand’s outstanding reputation for delivering glamorous occasion wear as great value.”
Looking ahead, he added: “Whilst the wider trading environment is expected to be challenging over the coming months, we are confident that Quiz is well positioned to deliver a performance at least in line with the board’s expectations in the current financial year.”
