Quiz achieved an 8.4 per cent rise in its Christmas season sales. For the six weeks to 5th January, its online revenues were up by 34.1 per cent with its own websites delivering the lion’s share of growth, coming in at 50.8 per cent more than the same period last year. Revenues from its own stores and concessions grew by just 1.6 per cent for the period, with the business having opened three new stores and expanded its selling space with two store re-locations.
The business had forecast significantly higher overall sales and has now adjusted its expectations, expecting to achieve total revenues of around £133 million, with full year EBITDA in the region of £8.2 million.
Tarak Ramzan, Quiz chief executive, said: “Against the backdrop of challenging trading conditions over recent months, Quiz has delivered further revenue growth over the Christmas period driven by the performance of our own websites. However, the growth and the margin achieved have been below our initial expectations and, consequently, the board considers it appropriate to revise its sales and profit expectations for the current year.”
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