Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Quiz downplays Debenhams risk as overall revenues grow

Group revenue at fast fashion womenswear retailer Quiz climbed 12% to £130.9m for the year to 31 March.

Online sales grew by 34% year on year to £41m. International sales were up 8% to £23m, while UK stores and concessions recorded an uplift of 4% to £66.9m.

The brand noted the reassurance from Debenhams that its operating companies continue to trade as normal following its pre-pack administration, and suppliers are expected to be unaffected.

Quiz operates 108 Debenhams concessions in the UK and 11 in the Republic of Ireland, as well as selling through its website – representing 23% of its overall revenues for the year. The brand said it ”looks forward to continuing to work productively with Debenhams going forward”. 

Revenues generated from the Quiz website increased by 58% following an increased spend on marketing.

Quiz opened three stores in the UK and three in Spain during the year to 31 March. Two UK stores closed and two relocated to larger premises.

Last month, Quiz issued its second profit warning for the full year, citing a “significant shortfall in sales” in the first two months of 2019. It followed a profit warning in January, when the business blamed challenging trading conditions over Christmas. 

In its post-close trading update today, the board said it anticipates that group EBITDA will be in the region of £4.5m, in line with its update in March. This is a fall of 45% on 2018.

The results of the board’s review into the slower-than- expected growth will be announced in June, when it confirms its final results. 

Tags

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.