Quiz Christmas trading fuelled by stellar online growth

By

Barbara Santamaria

Published
Jan 10, 2018

Strong online, international and UK sales contributed to a 31.9% jump in revenue at omni-channel fast-fashion womenswear brand Quiz during the Christmas period.

At constant currency, sales increased by 31.2% during the seven-week period from 19 November 2017 to 6 January 2018 against the comparable period last year, announced Quiz on Wednesday.

The results confirm the group’s bet on the omni-channel business model, after incorporating its digital offering into the retail space by opening a refurbished flagship store complete with an in-store digital kiosk in Westfield Stratford City in May.

It was a strategic move, as Quiz’s online channel continues to grow rapidly, with revenue increasing by 119% over the Christmas period. The brand’s own website continues to deliver strong growth, while third party online retailers, both new and existing, were also key.

International sales are also gaining momentum after the recent opening of the brand’s first three stores in Spain. The Spanish business, coupled with franchised sites and Irish stores and concessions, delivered a 51.1% increase in international sales (46.9% in constant currency).

Additionally, the group’s UK standalone stores and concessions performed strongly with sales up 11.6% during the period. In December, Quiz opened its fifth standalone store of the financial year in Cribbs, Causeway, joining more than 250 locations across the UK.

While the group did not provide specific details on its operational performance, it said it generated strong full price sales in the lead-up to Christmas, and as a result group margins were in line with expectations.

Tarak Ramzan, Chief Executive Officer, commented: "We are pleased with Quiz's continued strong momentum across the Group's omni-channel business model during the important Christmas trading period. This growth reflects the strength of our brand and the appeal of our products to customers who want the latest looks at fantastic value.

"We are continuing to execute our growth plans in each area of the business, underpinned by continued investment in our marketing, people and infrastructure.”