Fast fashion brand Quiz [IRDX RQUI] has reported ecommerce sales up by a third in its latest financial year.
The multichannel retailer, a Top150 trader in IRUK Top500 research, trades through more than 220 UK and Republic of Ireland outlets and 47 international stores in 20 countries as well as online via www.quizclothing.co.uk/. It has reported revenues of £87.4m in the year to March 31 2016, up from £78.2m at the same time last year.
UK retail sales excluding ecommerce rose by 10%, while ecommerce sales through its own website and through ecommerce partners were up by 33%. Quiz brand sales through third party retailers were up by 37% while international sales were 10% up. Meanwhile, pre-tax profits of £5.7m were 17% up on the £4.9m reported the previous year.
During the period, the brand continued to expand in the UK and Republic of Ireland with 50 new standalone stores and concessions with third parties including Debenhams and House of Fraser. At the end of the period, Quiz had over 220 UK and ROI outlets and 47 international stores with the brand now trading in 20 countries.
It also grew investment, which rose by 230% to £5.6m during the period. More than £3m was invested in a new automated and state-of-the-art warehouse facility in Bellshill, Scotland to support delivery of the brand’s UK and international growth plans.
Founder Tarak Ramzan said: “Quiz delivered an excellent performance in the year to 31 March 2016 reflecting the strength of our omnichannel business model and growing appeal of the Quiz brand. We have delivered strong double-digit growth in sales and profits, as well as continuing to invest in the business to ensure we deliver the brand’s exciting long-term potential.
“Quiz continues to build momentum in the UK and enjoy positive reactions in our international markets, underpinned by the design, value and style of our products, and we remain excited about the significant growth opportunities across our markets.”
Beyond the full-year figures, the brand recently reported a strong Black Friday performance with online brand sales increasing 90% compared to the equivalent day last year. During Black Friday week, total Quiz brand sales, including sales through third party websites, increased 80% year-on-year.
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