Quiz profits take a hit
Quiz has confirmed that whilst its group revenues rose by 12 per cent to £130.8 million for the year to 31st March, its pre-tax profits plummeted to £200,000. Online sales had grown by 34 per cent to represent 31.4 per cent of total revues, store and concession sales increased by 4 per cent with international sales rising by 8 per cent.
During the period the business had opened three new stores as well as 25 concessions, had enhanced its online store offering whilst also extending its ranges to include menswear, swimwear and petite fit collections.
CEO Tarak Ramzan said: "Despite the challenges faced by the group during the period, Quiz's focus has remained as strong as ever on delivering great products at outstanding value, thereby strengthening our brand's reputation amongst a growing customer base. As a result, we have continued to achieve sales growth across our omnichannel model in both the UK and internationally." He added: "Whilst trading conditions have remained challenging in the year to date, the Board remains confident that underpinned by our flexible business model and an increasing online focus, the group can return to sustainable profitable growth."