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Growing brand awareness boosts sales at Quiz

Group revenue at women’s fast fashion retailer Quiz climbed by 31.9% in the seven weeks to 6 January, compared with the year before.

Quiz said there had been “good growth” across all channels, helped by a general improvement in brand awareness in 2017.

Online revenue soared by 119%, thanks to growth in sales through its own website, as well as through new and existing third parties. This was supported by an investment in expanding its distribution centre’s capabilities during 2017.

The Glasgow-based retailer generated “strong” full-price sales in the run-up to Christmas. As a result, gross margins were in line with expectations.

International sales increased by 51.1% (46.9% on a constant-currency basis), and were boosted by the opening of its first three stores in Spain. Its Irish stores and concessions also enjoyed “strong growth”.

Sales through its UK stores and concessions were up 11.6% on 2016.

In December, Quiz opened a store in Cribbs Causeway, Bristol. It now trades from a total of 192,000 sq ft in the UK, up from 185,000 sq ft this time last year.

Chief executive Tarak Ramzan said: “We are pleased with Quiz’s continued strong momentum across the group’s omnichannel 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.”

 

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