// Quiz anticipates reporting a return to profit after the “positive sales momentum” previously reported over Christmas continued
// The encouraging momentum was achieved across both the retailers’s store and concession portfolio, as well as its website,
Quiz has said it anticipates reporting a return to profit after the “positive sales momentum” previously reported by the retailer during the Christmas trading period continued through the final quarter of the financial year.
In a pre-close trading update, the fashion retailer said it expects revenues for the year to March 31 to be ahead of expectations at approximately £78m.
The business said “encouraging momentum” was achieved across both the group’s store and concession portfolio, as well as its website, and resulted in like-for-like revenues broadly consistent with those generated in 2019, prior to the impact of the pandemic.
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This was driven by strong sales of Quiz’s occasionwear and “dressy casualwear” products in response to the increase of social occasions.
Following this, Quiz has confirmed that it will return to profitability in the full year period, with an EBITDA of around £4.3m and a pre-tax profit of around £0.5m.
Quiz expects to publish its results for the financial year ended March 31, 2022 in July 2022.