Scots 'fast fashion' retailer Quiz sees growing demand for occasion wear as festive sales jump

Quiz, the Glasgow-headquartered “fast fashion” retailer, has reported solid Christmas trading despite the cancellation of social events amid tighter Covid restrictions north of the Border.

The group, whose clothing ranges are popular with people attending parties and formal events, said total group sales in December rose by 20 per cent to £8.8 million, compared with a year earlier.

Bosses said they were pleased with the gross margins generated during the important festive period, which were consistent with those generated in the same timespan in 2019, prior to the pandemic.

Sign up to our daily newsletter

The i newsletter cut through the noise

Meanwhile, total group revenues in the nine months to December 31, 2021 totalled £61m, which represents an 88 per cent increase on the £32.4m generated in the equivalent period in 2020 when trading was hit hard by lockdown measures.

Glasgow-headquartered Quiz is an 'omni-channel fashion brand', specialising in occasion wear and dressy casual wear. Picture: Quiz plc

The performance during December was driven by a 64 per cent increase in revenues generated across Quiz’s UK store and concession portfolio, to £5.2m.

Online revenues fell by 26 per cent, to £2.1m, reflecting the termination of certain third-party partnerships during the financial year.

Updating investors on the outlook for 2022, the firm said: “The group is encouraged by the positive performance delivered during the period [December], which highlights the strength and awareness of the Quiz brand, and the growing customer demand for its trademark dressy and occasion wear offering.

“The board remains confident that, in the absence of any further substantial disruption from Covid-19, this demand will support continued profitable revenue growth and deliver a full year to March 31, 2022 performance in line with board expectations.”

Read More

Read More
Glasgow 'fast fashion' chain Quiz sees post-lockdown bounce after 2020 wipe-out

A message from the Editor:

Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions

 0 comments

Want to join the conversation? Please or to comment on this article.