// Quiz records growth in revenue after strong demand for occasionwear
// Revenues were up 37.2% to £49.4m in the six months between April 1 and September 30
Quiz Clothing has reported a growth in revenue despite the cost-of-living crisis creating a dent in retailers’ trading.
The fast fashion retailer said revenues were up 37.2% to £49.4 million in the six months between April 1 and September 30, compared to the same period in 2021.
This was largely driven by a jump in UK store and concession sales, which grew 48.2% following a demand in occasionwear and dresses.
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As of September 30, Quiz operates 62 standalone stores in the UK, as well as 62 concessions.
Online sales and international sales increased by 28.8% and 26.1% respectively.
Sales through its own website totalled £11.3 million, while sales through its third-party partner totalled £4.8 million.
Quiz said that it had improved average order value during the period. It attributed its growth to “the appeal of the Quiz brand and its strong reputation amongst its customers for dressy and occasion wear”.
The retailer added that it had felt a return in demand following the lifting of coronavirus-related restrictions.
Quiz remains confident that its offering will continue to resonate during the festive season.
Quiz said: “Whilst it remains uncertain what impact the current cost of living pressures will have on consumers’ disposable income and on their demand for Quiz products over the remainder of the group’s financial year, management remain confident that the product proposition and commitment to providing glamorous looks at value prices will continue to appeal.
“The group’s full year results to 31 March 2023 which will, as always, be in part dependent on trading during the key Christmas period, are expected to be in line with market expectations.”
