Quiz, the renowned womenswear retailer from the UK, has seen a return to profitability in the 2021/2022 financial year.
While its revenue rose by a strong 97 per cent to £ 78.4 million for the year that ended 31 March 2022, the gross profit recorded was £ 47.3 million.
Notably, Quiz saw its profits before tax grow to £ 900,000, following losses of £ 9.4 million in the 2019/2020 financial year.
The retailer has attributed the return to profitability to strong sales during Christmas, and return of events like wedding and parties. Consequently, it witnessed robust growth in online sales, with 66 per cent rise in sales via Quiz’s own website.
Quiz also saw a rise of 74 per cent in active customers during the said period.
Even during the quarter that ended 30 June 2022, the retailer’s full-price sales clocked £ 27.3 million, at a growth of 62 per cent.
Tarak Ramzan, Founder and CEO, Quiz, said that the performance reflected increased demand for Quiz’s product offering that was complemented by the decisive actions taken by the retailer lately to transform the business.
Started in 1993, Quiz is majorly known for women’s tops, trousers, midi skirts, shorts and maxi dress, amongst others.
