Sales in fast fashion brand QUIZ were up 30% to £116.4m in the year ending 31 March 2018, driven by strong growth across all channels, in particular online.
The AIM-listed business said online revenue had increased by 158% to £30.6m during the period, while international revenue was up 32% at £21.2m, and UK stores and concessions were up 12% at £64.6m. Underlying EBITDA was up 24% to £12.7m and profit before tax was up £0.4m at £8.5m.
Other key achievements during the year included an 87% increase in active online customers to 370,000 and the opening of five UK stores and six UK concessions. It also launched a local language Spanish site to complement its three Spanish standalone stores and opened its first wholly owned store outside of the UK in Dublin.
Chief executive Tarak Ramzan said he was pleased with what was “a very good performance” and that the business had made “excellent progress” with its omnichannel strategy.
“QUIZ is continuing to grow its reputation as a leading fast-fashion brand known for fantastic value and quality. We have further expanded the brand with the successful launches of our CURVE and Bridal ranges as well as the recent launch of QUIZMAN.com. More recently the QUIZ X TOWIE collection, our first male and female capsule collection has been very well received.
“With our attractive customer offer, well-invested infrastructure and omni-channel business model with the flexibility to increase investment in higher return areas, QUIZ is well positioned to deliver strong growth in the year ahead in-line with the Board’s expectations,” he said.
QUIZ was floated on AIM last July in a move which raised £10.8m of new money to fund its expansion.