Quiz has posted a leap in full-year profits and sales, bolstered by a rapidly growing customer base and its successful float.
The fashion retailer reported a 20% increase in underlying pre-tax profit to £9.8m in the year to March 31, driven by a 30% jump in group revenue to £116.4m.
Online revenue more than doubled during the period to £30.6m, while underlying international sales rose 32% to £21.2m.
Quiz’s number of active customers rocketed by 87% to 370,000, bolstered by its partnership with Zalando and expansion into the US and Spain.
The fashion retailer opened five new UK stores during the year, taking its total number of outlets in the UK to 71, and the retailer said there is “currently the potential for a further 40-50 stores across the country in the medium to long term”.
The retailer, which secured £10.3m investment from its AIM listing last year, ploughed nearly £1m into expanding the space used in its warehouse by 40% to 232,000 sq ft to drive further expansion.
Chief executive officer Tarak Ramzan said: “We are pleased to report a very good performance for the Quiz brand during the year with excellent progress achieved from our omnichannel growth strategy.
“Quiz is continuing to grow its reputation as a leading fast-fashion brand known for fantastic value and quality. We have further expanded the brand with the successful launches of our Curve and Bridal ranges as well as the recent launch of Quizman.com.
“With our attractive customer offer, well-invested infrastructure and omnichannel business model with the flexibility to increase investment in higher return areas, Quiz is well positioned to deliver strong growth in the year ahead in line with the board’s expectations.”
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