Quiz has merrier Christmas as sales recover at home and abroad
Occasion-focused fashion brand Quiz had a better Christmas trading period in 2021 than 2020, with the company on Friday saying December revenues rose 20% year-on-year to £8.8 million.
And its revenues were “broadly consistent on a like-for-like basis” with the sales generated two years ago.
It divided down as UK store sales rising 64% to £5.2 million as the restrictions of a year ago were largely absent. However, online sales fell 26% to £2.1 million, reflecting the termination of certain third-party partnerships during the financial year. Sales through its own websites “were consistent with the previous year and in line with board expectations”.
But international sales rose 11% to £1.5 million. The non-UK ops comprise five stores and 15 concessions in Ireland and international franchise partners. The group is “confident in the Quiz brand's potential for long-term international growth and continues to pursue opportunities in line with its strategy”.
The company also said it’s “pleased with the gross margins generated during the period, which are consistent with those generated in the same period in FY19, prior to the impact of Covid-19”.
And as well as its positive momentum late in the year, total group revenues in the nine months to 31 December totalled £61 million, an 88% increase on the £32.4 million generated in the equivalent period in FY20.
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