Quiz reports 11 percent drop in Christmas sales

Omni-channel fashion brand Quiz said, sales in the period from December 1 to 31, 2023 decreased 11 percent or 1.1 million pounds to 8.7 million pounds.

This reduction, the company added, reflects the negative impact of inflationary pressures on consumer demand which resulted in declines in traffic both in-store and online offsetting consistent year-on-year trends in key metrics such as conversion rates and average transaction values.

The gross margin performance was consistent with the prior year.

The company further said that Quiz is progressing its review of the strategic options available to the group and intends to report the findings from this review by the end of March 2024.