Quiz soars online, grows retail chain in UK and abroad
Omnichannel was key for Scotland-based womenswear retailer Quiz in the year to March 31 as revenue rose 11.8% to a record £87.4m from £78.2m, and pre-tax profits soared 18% to £5.7m.
UK retail sales grew a healthy 10% as the firm expanded fast in its domestic market with 40 new stores and concessions opened in just the last 12 months. It has 267 stores and is also planning to open another six in Q1 next year. And it has been upgrading a number of existing locations.
But as well as physical store growth, e-tail was a key channel and surged by 33% in its last financial year.
Founder Tarak Ramzan said the figures are due to the “growing appeal of the Quiz brand.” He added: “Quiz continues to build momentum in the UK and enjoy positive reactions in our international markets,” and said that the business has “significant growth opportunities.”
The company has 47 stores outside of its core UK and Ireland market and has invested over £3m in an automated warehouse to support its growth strategy both at home and abroad.
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