Quiz books double-digit growth in full-year sales & profits

661
Quiz House of Fraser

Quiz has recorded double-digit sales growth in its first full year of sales since going public, reflecting the retailer’s successful business model during a bleak time for UK retail.

In the retailer’s preliminary report released today, which covers the year to March 31, underlying EBITDA surged 24 per cent year-on-year to £12.7 million compared to £10.3 million recorded last year while underlying profit before tax jumped 20 per cent from £8.1 million to £9.8 million.

Meanwhile, group revenue jumped 30 per cent to £116.4 million, driven by growth across all channels – especially online where revenue skyrocketed 158 per cent £30.6 million compared to last year’s £11.9 million.

Quiz attributed its online results to a sharp 87 per cent rise in its active online customer base, from 198,000 last year to 370,000 in the year ending March 31.

In addition, new Android and iOS apps launched during the second half the year, while earlier in the year it launched its first international online partnership with Zalando.

Underlying international sales rising 32 per cent to £21.2 million compared to £16 million last year was another booster for Quiz’s group revenue.

During the year it launched a local language website for Spain alongside the opening of three Spanish standalone stores, the fashion retailer’s first outside the UK and Ireland.

In addition, it made its first direct US sales through department store outlets and with a US-focused website launched towards the end of the year.

The other channel that boosted Quiz’s overall revenue was revenue from UK stores and concessions, which increased 12 per cent to £64.6 million compared to £57.5 million in 2017.

Quiz added that a successful placing on London Stock Exchange’s AIM in July last year helped raise £10.3 million of new money for the business to help fund further expansion.

In addition, there will be a maiden dividend of 0.8 pence per share proposed in respect of second half of FY 2018.

“We are pleased to report a very good performance for the Quiz brand during the year with excellent progress achieved from our omnichannel growth strategy,” founder and chief executive Tarak Ramzan said.

He added: “We have further expanded the brand with the successful launches of our Curve and bridal ranges as well as the recent launch of Quizman.com.

“More recently the Quiz X TOWIE collection, our first male and female capsule collection, has been very well received.

“With our attractive customer offer, well-invested infrastructure and omnichannel business model with the flexibility to increase investment in higher return areas, Quiz is well positioned to deliver strong growth in the year ahead in-line with the board’s expectations.”

Quiz currently has more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 20 countries.

In the UK, it operates 71 standalone stores and 147 concessions.

Click here to sign up to Retail Gazette‘s free daily email newsletter