Quiz, the occasion wear-focused fashion brand, is grappling with ongoing challenges in Q1, mirroring its struggles from the previous financial year.
Total revenues for the year to date plummeted by a significant 15.3 per cent to £ 37 million. The breakdown reveals an 11.5 per cent drop to £ 19.3 million in UK stores and concessions, a 10.5 per cent decline to £ 6.8 million in international operations, and a substantial 23.8 per cent fall to £ 10.9 million online.
The UK stores and concessions suffered an almost 12 per cent decline, reflecting decreased in-store foot traffic compared to the previous year. However, September data indicates a return to prior-year revenue levels for UK stores and concessions.
International revenues primarily hinge on direct-operated Irish stores and concessions, which decreased to £ 2.4 million from £ 3 million, along with revenues from international franchise partners dipping to £ 4.4 million from £ 4.6 million.
As of 19th September, Quiz operated five stores and 21 international concessions in Ireland, marking a shift from six stores and 17 concessions.
Online operations also took a hit, with sales on its own websites dropping to £ 7.4 million from £ 10 million, and third-party website sales declining to £ 3.5 million from £ 4.3 million.
