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Quiz revenues have soared by 37.2% in the last six months, hitting £49.4m in results that were ahead of its previous expectations.
Between 1 April and 30 September, revenues were £13.4m higher than the prior year, reportedly reflecting the brand’s appeal and reputation for dressy and occasion wear, with demand recovering after the easing of social restrictions.
Nonetheless, year-on-year revenue growth moderated throughout August and September, a trend “consistent with other fashion retail businesses as inflationary pressures began to impact consumer confidence”.
Over the period, the group witnessed a 48% increase in its UK stores and concessions revenues however, with figures “consistently higher” than prior to the pandemic on a like-for-like basis.
It noted that concessions provide the group with a “flexible and low-cost route to market given the limited expenditure required to establish new outlets”.
Looking ahead, the group said that whilst the impact of the cost of living crisis on customers and demand remains “uncertain”, it is still “confident that the product proposition and commitment to providing glamorous looks at value prices will continue to appeal”.
It added that its full year results to 31 March 2023 are expected to be in line with market expectations.
In its latest trading update, Quiz said: “The board is pleased with the strong growth recorded across all channels during the period which supports the group’s omni-channel business model. It remains confident that the brand will continue to increase its appeal and looks forward to achieving continued profitable revenue growth.”
