Quiz sales sore, but still impacted by lower demand for occasionwear

Image: Quiz, Facebook Quiz has reported soaring sales in the first quarter of the year following the further easing of lockdown restrictions in the UK, but said it continues to be impacted by the pandemic. In the quarter to June 30, total sales reached 17.3 million pounds, which were consistent with the board’s expectations and 13.1 million pounds more than reported a year ago when the company was “severely impacted” by the first wave of the pandemic in the UK and Europe. But despite lockdown restrictions easing during the quarter, Quiz said the pandemic continued to impact sales through the closure of stores and concessions for part of the period and a drop in demand for the company’s trademark dresses and occasionwear. Breaking the sales down by channel Quiz reported 4.6 million pounds through its own website, compared to 2.2 million pounds a year earlier, while sales through third-party websites totalled 1.8 million pounds compared to 1.2 million pounds a year earlier - which the company said was linked to the cessation of sales through the Debenhams website from early April. As of June 30, Quiz operated 61 stores in the UK, 13 fewer than it had prior to the lockdown of stores in March 2020. International revenues from stores and concessions operated by Quiz amounted to 0.6 million pounds, compared to 0.1 million pounds the year before. Quiz has five international stores and 15 international concessions, all located in Ireland, which were closed at the start of the period and reopened in mid-May. Revenues from international franchise partners in the period amounted to 3.1 million pounds, compared to 0.4 million pounds in 2020. “The group continues to pursue opportunities for long-term International growth and is confident that this can be achieved,” Quiz said. Looking ahead, the company said it “looks forward to the further relaxation of restrictions on social activities” as demand for occasionwear returns.
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