Quiz continues on its recovery trajectory as Christmas season sparkles
Omnichannel womenswear brand Quiz continued its recovery during December with the company, saying on Tuesday that total sales rose 11% to £9.8 million during the month.
This reflected “strong consumer demand for Quiz’s renowned dressy occasionwear,” the company said.
The breakdown of sales clearly shows the bounce-back in physical retail over the Christmas period. The company said that its UK stores and concessions saw sales rising 19% to £6.2 million.
It managed to deliver a sales increase via its own webstore, although it was only a 2% rise to £1.3 million. But sales via third-party websites fell 35% to £0.5 million. This meant that online overall was down 14% at £1.8 million.
The company explained that its online performance was as expected. Traffic to the Quiz website and the key online operational metrics were consistent with the previous year. Meanwhile “the decline in online revenues through third-party websites was anticipated and in line with the group's strategic focus on growing sales through its own website”.
International sales (via five stores and 18 concessions in Ireland and international franchise partners) rose a healthy 20%, also reaching £1.8 million.
The appeal of the company's offer was understandable, given that it was the first Christmas trading period in three years not to have been hit with pandemic restrictions. And we’ve already heard via a number of updates that customers of many retailers were eagerly snapping up items such as sequin, satin and velvet dresses. This perfectly syncs with Quiz’s dressy offer.
The retailer retains a healthy cash balance and said it’s “encouraged by the positive performance delivered during the period which again highlights the strength and awareness of the Quiz brand and growing customer demand for its trademark dressy and occasionwear offering”.
However, it recognises that “current macroeconomic pressures may impact consumer demand across the sector”. But it believes it will deliver profits “at least” in line with its expectations for the year to 31 March and is “well positioned to achieve further profitable revenue growth in the longer term”.
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