Despite the upcoming crucial Christmas trading and January sales periods for Quiz, the board expects revenue to be 6-8% lower. Credit: Shutterstock

Quiz Clothing’s group revenues fell by 14% in the six months to 20 September 2023., which the retailer attributed to challenging prior-year comparatives and inflationary pressures that impacted consumer demand during the financial year.

Sales in the brand’s UK stores and concessions dropped by 10.6% to £22m, while e-commerce sales saw a decrease of 21.7% to £12.6m. In the international business, sales fell by 11.5% to £7.7m.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The retailer has announced that it will be examining “strategic options” under the leadership of their chairman, Cowgill, to optimise shareholder value, with the results of this review will be presented at the beginning of next year.

Tarak Ramzan, founder and chief executive added: “This has been a challenging period for many retailers, and we have not been immune to the widely publicised macro headwinds impacting consumer demand.

“Notwithstanding the ongoing pressure on consumers, we have continued to focus on making the right decisions for our long-term future, including prioritising protecting full-price sales and carefully managing our store portfolio.”

See Also:

Key results from Quiz H1 period:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
  • Net sales fell 14% to £42.3bn
  • EBITDA dropped to £1.1m from £3.7m the year before
  • Operating losses of £1.3m were incurred

The board remains confident in Quiz’s differentiated brand and relevant omni-channel business model.

Despite the upcoming crucial Christmas trading and January sales periods for Quiz, the board expects revenue to be 6-8% lower than the £86.4m predicted in the year ending 31 March 2024.

This expectation takes into account the recent decline in demand and the possibility of ongoing macroeconomic pressures affecting consumer demand.

“I remain confident that Quiz remains a strong, distinctive brand known for providing glamorous looks at good value prices,” said Ramzan. “However, given the prolonged period of challenging trading, we believe it is prudent to examine a range of options to maximise shareholder value.”

In September, it was reported that the first half of revenues at Quiz fell on the back of higher inflation resulting in lower traffic in its stores and website.