Quiz annual turnover increases 30 percent

Womenswear brand Quiz reported 30 percent increase in revenues to 116.4 million pounds (164.7 million dollars) in the year ended March 31, 2018. The company said, revenues increased by 36 percent excluding 4.4 million pounds (6.2 million dollars) of non-recurring wholesale revenue from Spain. The company’s international sales increased further with the opening of new standalone stores in Spain and Ireland as well as new franchise stores across established markets.

Commenting on trading, Tarak Ramzan, Chief Executive Officer, Quiz, said in a media release: "We are delighted to have successfully completed our first financial year since our IPO in July. This strong performance reflects the growing strength of the Quiz brand and the continued growth across each of our sales channels and target markets."

Quiz added that sales growth in the group's UK standalone stores and concessions was achieved in approximately equal parts from a strong like-for-like performance and through new store and concession openings. During the year, the group opened five new standalone stores and seven new concessions. Subsequent to the year-end, the group opened a new standalone store in Bluewater, while two standalone stores and five concessions were closed during the year.

Picture:Facebook/Quiz Clothing


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