British fast fashion brand Quiz has reported revenue of 49.4 million pounds in the six months to September 30.
Revenue was up 37.2 percent compared to the same period last year, and was marginally ahead of the board’s expectations
The company benefited as shoppers returned to physical stores following the end of lockdown restrictions, with sales at its UK stores and concessions up 48.2 percent. Sales in this channel were also “consistently higher” than pre-pandemic levels on a like-for-like basis.
Online sales were also up 28.8 percent, while overall international sales increased 26.1 percent.
While Quiz said it was pleased with the “strong growth recorded across all channels”, it said revenue growth has eased in recent months as inflationary pressures impacted consumer confidence.
Quiz said its gross margin for the period was ahead of comparable periods in recent years as it benefited from stronger demand for full price products.
“This reflects the success to date in recovering higher product costs which, along with other costs, have been subject to inflationary pressures through the period,” the company said.
Looking ahead, Quiz expects its full-year results to “be in line with market expectations” despite uncertainty about consumer spending over the coming months.