Quiz sales have continued to decline amid challenging conditions with online traffic “severely impacted”.
Over April and May, the fashion retailer’s sales dipped £1.7m year on year to £13.8m. Despite this, its gross margin remained consistent with last year.
The brand saw a 12% uptick in demand for its products in international markets and sales within its stores remained stable on a like-for-like basis year-on-year.
However, it said its UK online operations felt a sharper kick from the ongoing economic pressures on customers, reflecting broader industry pressures.
-
Related Story
-
Since launching a strategic review last year, the company has launched several key initiatives, including refining customer targeting and brand identity, restructuring buying and merchandising, expanding distribution channels and enhancing omnichannel capabilities.
Quiz confirmed it has renewed its bank facilities for the next 12 months with no financial covenants applied.
It confirmed it had net borrowings of £1.6m and total liquidity headroom of £2.4m.
Click here to sign up to Retail Gazette‘s free daily email newsletter
