Quiz reports strong H1 revenues but sees profits drop

Omni-channel fashion brand Quiz has reported group revenue more than doubled to £36 million in the six months to 30 September 2021, with the lifting of social restrictions resulting in sales progressively improving and eventually returning to pre-COVID levels.

Higher level of full price sales and reduced discounting across the business resulted in gross margins increasing to 57.5% from 51.7% in H1.

The rise in operating costs, including distribution and administrative costs, was restricted to 22% as the increased revenues leveraged off the existing infrastructure.

Quiz also saw ecommerce growth, with a 43% increase in sales through its own website and a 27% uplift in total online sales. Active customers increased 30% on the prior financial year in line with demand for the brand's core occasionwear offering.

By Tom Shearsmith.

Full story at The Industry Fashion.