// Quiz posts a 17% increase in revenue in the 12 months ending March 31
// The business said gross margins were “in line with management expectations and consistent” with last year
Quiz saw its group revenue increase by 17% to £91.7 million in the year to 31 March after shoppers returned to stores.
Sales at the fashion retailer‘s UK stores and concessions rose 43% to £45.5 million in the period while online sales increased 12% to £29.8 million and international sales jumped by 10%.
But like-for-like revenues in February and March 2023 were lower than in the previous year as inflation and a challenging trading environment impacted its performance.
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Chief executive Tarak Ramzan said: “The group delivered a good performance in FY23 achieving revenue growth across each of its channels reflecting the strength of Quiz’s trademark dressy and occasion wear product offering.
“This outcome, which was achieved despite the challenging market backdrop in recent months, is a strong testament to our flexible model and differentiated brand.”
“Whilst the external trading environment is expected to remain challenging in the near term, we remain highly confident in the group’s long-term prospects.”
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