The British fast fashion provider Quiz Plc sees itself on course after a strong increase in sales in the Christmas business. Because the demand for occasion wear has recently increased significantly, the management assumes that it will achieve “profitable growth” in the current 2021/22 financial year and that it will meet its own expectations, the company said in an interim report on Friday.
Last December, Quiz generated sales of £8.8 million (€10.5 million), surpassing the same month last year by 20 percent. The growth drivers were the company’s own stores and concession areas in Great Britain, whose revenues rose by 64 percent to 5.2 million British pounds. In December 2020, the shops were still being burdened by temporary store closures as a result of the Covid 19 pandemic. Online sales fell 26 percent to £2.1 million, which the company attributed to the termination of trading partnerships. In the international business, revenues increased by eleven percent to 1.5 million pounds sterling.
According to the company, the current figures were in line with expectations. The development of the gross margin, which reached the level of the pre-crisis year 2019/20, was pleasing, according to a press release. In the first nine months of the current financial year, which ends at the end of March, sales amounted to 61.0 million British pounds, which means an increase of 88 percent compared to the same period last year.
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