// Quiz profits rise thanks to demand for its occasionwear
// CEO Tarak Ramzan warned the retailer is “not immune to the widely publicised cost of living pressures”
Quiz has seen a rise in profits as the retailer reported a strong demand for its occasionwear.
The fashion retailer posted a pre-tax profit of £1.8 million for the six months to September 30, compared to a £1.3 million loss during the same period a year ago.
EBITDA rose from £700,000 to £3.7 million, as group revenues increased 37% to £49.4 million during the period.
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Quiz said UK shop and concession revenues increased by 48% to £24.6 million and demand reached pre-pandemic levels on a like-for like basis, while online revenues increased by 29% to £16.1 million through its own website.
Meanwhile, international sales were up 26% to £8.7 million.
Quiz said sales for the two months to 30 November 2022, including the Black Friday sales period, reached £16 million compared to £16.2 million a year earlier, which was broadly in line with management expectations.
Quiz chief executive Tarak Ramzan said the retailer is “not immune to the widely publicised cost of living pressures on the consumer in the second half of the year”.
However, he said he remains confident that “Quiz is positioned well for long-term, sustainable and profitable growth”.
