Quiz sales jump 20% over Christmas period despite slump in online demand

Quiz expects to return to profitability
The retailer said it Quiz will publish its full-year results in July.
// Omni-channel fashion retailer Quiz sees total sales climb 20% year on year to £8.8m during the month of December
// Overall Christmas sales at Quiz increased as a result of strong store and concession performance

Fast-fashion retailer Quiz has reported a 20% jump in sales over the Christmas period as shoppers returned back to its stores and concessions at the end of last year as Covid restrictions eased.

In the month of December, sales rose to £8.8 million from £7.4 million in the same month a year prior, in line with the company’s expectations.

Revenues from UK stores and concessions surged 64% to £5.2 million, with Quiz pointing out that these had been closed for part of the comparable prior year period.

READ MORE: Quiz revenue reaches £36m thanks to reduced discounting

International sales grew 11% to £1.5 million, but online suffered, with revenues down 26% at £2.1 million. The online performance reflected the termination of certain third-party partnerships during the year, Quiz said.

Total group revenues in the nine months to the end of December came in at £61 million, up 88% on the year.

During the wider nine-month period to December 31, Quiz said group sales almost doubled to £61 million compared to £32.4 million a year ago. Like for likes were “broadly consistent” with those achieved in 2019, it added.

“The board was pleased with the performance achieved in the period given the challenging trading conditions, notably the widespread cancellation of social events and the introduction of formal restrictions on social activities in Scotland, Wales, and across Ireland following the continued rise in Covid-19 cases throughout December,” it said.

“For the same reason, footfall during the second half of the period was also notably reduced. This impacted demand for, and increased customers’ returns of, Quiz’s partywear products in the second half of the period.”

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  1. The headline is inaccurate. There was not a “slump in online demand”. As the RNS announcement to the stock market today explains, online sales were flat on QUIZ’s own website. However, it withdrew from some third party websites (lower margin), which is why the total online sales were down 20% in Dec 2021. this probably relates to the demise of Debenhams, which used to be c.25% of all QUIZ’s sales (concessions & online).
    Nice to see QUIZ survive the pandemic, and it’s now trading from short leases on turnover rents, so should be profitable on uninterrupted (we hope!) trading in future.
    Disclosure: I’m a shareholder in QUIZ.
    Regards, Paul Scott.


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