Fashion retailer Quiz has released its interim results for the six months ending 30 September 2023. Group revenues decreased by 14 per cent to £42.3m and EBITDA fell to £1.1m. Sales dropped across all channels, with online revenue falling by 22 per cent to £12.6m.
During this period, the retailer opened three stores, relocated two and closed two. It now has 64 stores in the UK and 5 in Ireland.
Quiz has also reported that its sales of £14.1m for the two months to 30 November 2023, including Black Friday were behind management expectations.
Tarak Ramzan, Founder and Chief Executive Officer, commented: “This has been a challenging period for many retailers, and we have not been immune to the widely publicised macro headwinds impacting consumer demand. Notwithstanding the ongoing pressure on consumers, we have continued to focus on taking the right decisions for our long-term future, including prioritising protecting full-price sales and carefully managing our store portfolio.
I remain confident that QUIZ remains a strong, distinctive brand known for providing glamorous looks at good value prices. However, given the prolonged period of challenging trading we believe it is prudent to examine a range of options to maximise shareholder value.”
Share