Quiz sales jump 20% over Christmas period
Fast-fashion retailer Quiz reported a 20% jump in sales over the Christmas period as it said trading for the full year was set to be in line.
In the month of December, sales rose to £8.8m from £7.4m in the same month a year prior, in line with the company’s expectations.
Revenues from UK stores and concessions were up 64% to £5.2m, with Quiz pointing out that these had been closed for part of the comparable prior year period.
International sales grew 11% to £1.5m, but online was weak, with revenues down 26% at £2.1m. The online performance reflected the termination of certain third-party partnerships during the year, Quiz said.
Total group revenues in the nine months to the end of December came in at £61m, up 88% on the year.
"The board was pleased with the performance achieved in the period given the challenging trading conditions, notably the widespread cancellation of social events and the introduction of formal restrictions on social activities in Scotland, Wales, and across Ireland following the continued rise in Covid-19 cases throughout December," it said.
"For the same reason, footfall during the second half of the period was also notably reduced. This impacted demand for, and increased customers' returns of, Quiz’s partywear products in the second half of the period."
At 0825 GMT, the shares were up 10% at 17.29p.