Xmas revenue up 32% at fashion firm Quiz

Glasgow-based fashion firm Quiz said its Christmas trading was in line with expectations with a 31.9% increase in group revenue for the seven-week period from November 19, 2017, to January 6, 2018, against the comparable period last year.  

“The group generated strong full price sales in the lead-up to Christmas and as a result the group gross margins in the period were in line with expectations,” said Quiz.

“The Quiz brand has continued to grow rapidly online with group online revenue increasing by 119.0%.

“This expansion was driven by continued strong growth through Quiz’s own website as well as through new and existing third party online retailers.

“This growth was enabled by the investment made in expanding the group’s distribution centre undertaken during 2017.”

Quiz said international sales increased by 51.1%, with the growth reflecting increased sales through its franchise partners, the introduction of its first three stores in Spain and strong revenue growth from its Irish stores and concessions.

Quiz CEO Tarak Ramzan said: “We are pleased with QUIZ’s continued strong momentum across the Group’s omni-channel business model during the important Christmas trading period.

“This growth reflects the strength of our brand and the appeal of our products to customers who want the latest looks at fantastic value.

“We are continuing to execute our growth plans in each area of the business, underpinned by continued investment in our marketing, people and infrastructure.

“We continue to look forward with confidence as we build on our strategy to develop Quiz as a global fast-fashion brand.”