Quiz reports ‘strong recovery’ as profits and sales climb

However, Quiz also cautioned that profits in the new financial year are likely to be flat, reflecting a tough trading environment.

Sales at Quiz climbed 17% to £91.7m in the year to March 31, helped by the absence of Covid restrictions. Pre-tax profit rocketed 191.5% to £2.3m as more full-price sales led gross margin to rise to 61.6% – above that achieved before the pandemic.

Quiz founder and chief executive Tarak Ramzan said: “Our results reflected a strong recovery in consumer demand for Quiz’s occasionwear-led product offering, resulting in positive sales and profit growth. The past year once again demonstrated the benefits of the group’s omnichannel model as we saw encouraging revenue growth across stores and online.

“We continue to firmly believe that the Quiz brand has a clear, differentiated position in the market and continues to resonate with a broad age range of customers. The group continues to focus on achieving its online growth potential through its website and we were encouraged by the increase in sales and active customers during the year.

“The trading environment in the opening months of the new financial year has been tough reflecting the widely publicised external economic factors impacting consumer demand.

“Whilst this challenging backdrop is expected to continue into the second half, the board remains confident that the group’s omnichannel business model and differentiated brand will enable long-term success and profitable growth.”