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Quiz defies high street blues with 30% growth

Fashion retailer Quiz has bucked a calamitous high street trend in the first half of 2018, announcing revenue growth of 30% from the previous financial year.

Physical store sales grew by 12% and online sales by 158% compared with last year.

The company also saw pre-tax profit rise slightly from £8.1m to £8.5m on last year, with the figures leading to management offering the company’s first ever dividend of 80p per share.

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The strength of Quiz has been put down to strong digital operations and an ability to follow the latest trends of competitors Asos and Boohoo, however Quiz’s strong high street presence is currently giving it an edge according to analysts.

The brand has now launched a US-focused website and made its first direct US sales through department stores. International sales also rose 32% compared with last year.

Tarak Ramzan, chief executive of Quiz said: “Quiz is continuing to grow its reputation as a leading fast-fashion brand known for fantastic value and quality. We have further expanded the brand with the successful launches of our Curve and Bridal ranges as well as the recent launch of Quizman.com.”

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