Quiz booked a year-on-year revenue increase in Q1 across all sales channels including online and international.
Results in brief:
- UK stores and concessions +48.2% to £24.6m
- Online +28.8% to £16.1m
- International +26.1%
Going forward Quiz says whilst it remains uncertain what impact the current cost of living pressures will have on consumers’ disposable income and on their demand for Quiz products over the remainder of the Group’s financial year, management remain confident that the product proposition and commitment to providing glamorous looks at value prices will continue to appeal.
In July, Quiz reported a profit for the year ending 31 March as revenue surged 97% on the prior year as Covid social restrictions eased, leading to increased demand for its trademark occasionwear.
The retailer recently introduced a new sustainable clothing range, designed and manufactured in the UK, featuring yarns derived from recycled components.
Quiz said it had dramatically reduced the amount of waste produced across its supply chain and points to the launch of 100% recycled and recyclable bags for all e-commerce orders and in-store purchases – a “big step forward” that reduced its annual virgin plastic use by 40 tonnes.