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Quiz group sales increased by 11% to £9.8m for the Christmas trading period ending 31 December 2022.
Sales growth over Christmas was driven by a 19% increase in revenues generated across the retailer’s UK stores to £6.2m, which reflects “strong” like-for-like growth on the sales generated in the prior year and pre-pandemic.
According to the clothing retailer, its performance reflects “strong customer demand” for its dressy occasion wear for the first Christmas period in three years not impacted by the pandemic.
This demand reportedly helped offset weaker than anticipated revenues in the weeks running up to Christmas and contributed a 3% boost in revenues by the end of 2022, which was in line with the board’s expectations.
As a result, group revenues in the nine months to 31 December 2022 totalled £75.2m, representing a 23% increase on the £61m generated in the equivalent period in the previous year.
However, the group’s online revenues decreased 14% to £1.8m, with sales through its website being consistent with the previous year. Traffic to the website was also consistent with the previous year.
Tarak Ramzan, CEO 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.
“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.”
