Quiz PLC Pre-Close Trading Update (2523T)
11 October 2017 - 5:00PM
UK Regulatory
TIDMQUIZ
RNS Number : 2523T
Quiz PLC
11 October 2017
QUIZ Plc
("QUIZ" or the "Group")
Pre-close Trading Update
For the six month period to 30 September 2017
Strong omni-channel growth across UK and international
markets
QUIZ, the omni-channel fast fashion womenswear brand, is pleased
to announce a 35% increase in Group revenue to GBP56.1m (H1 2016:
GBP41.5m) for the six month period to 30 September 2017 ("H1
2017"), compared to the same period last year. Gross margins remain
in-line with expectations.
QUIZ's strong growth in H1 2017 reflects the brand's continued
expansion in the UK and targeted international markets across the
Group's omni-channel model.
The QUIZ brand has continued to grow rapidly online with Group
online revenue increasing by 204% to GBP13.8m in H1 2017 (H1 2016:
GBP4.5m) reflecting the benefit of opening the new 180,000 sq. ft.
Distribution Centre in the summer 2016, increased and effective
marketing spend, particularly through digital channels, and the
broadening of the product ranges available to customers. The
Group's online revenues reflect sales made through QUIZ's own
websites, as well as through a number of third party websites.
Sales through QUIZ's own websites increased by 122% in H1 2017. In
September 2017, QUIZ launched its first localised website in Spain.
There has also been strong growth in sales made through existing
and new third party websites, which includes the benefit of
commencing sales on the Next website in October 2016 and with
Zalando in Germany in May 2017.
The QUIZ brand continues to grow across its target international
markets with the international sales, excluding the non-recurring
wholesale revenue in relation to Spain in the year ended 31 March
2017, for H1 2017 increased by 25% (23% in constant currency) to
GBP10.0m in H1 2017 (2016: GBP8.0m). The Group's total
international sales* for H1 2017 increased by 12% (10% in constant
currency) to GBP10.0m in H1 2017 (2016: GBP8.9m).
The Group continues to deliver on its international expansion
towards the end of the period and opened three standalone stores in
Madrid in Spain, QUIZ's first standalone stores outside the UK and
the Republic of Ireland. This has complemented the recent launch of
QUIZ's own Spanish language website. It is anticipated that one
additional store will be opened in the Republic of Ireland prior to
Christmas 2017.
The Group has also expanded its international franchise
operations from 65 units to 76 units in H1 2017, including new
franchise units in Dubai, UAE and Morocco, further demonstrating
the growth opportunities for the QUIZ brand globally.
Sales in the Group's UK standalone stores and concessions
increased by 15% to GBP32.3m in H1 2017 (H1 2016: GBP28.1m) with
each channel performing in line with expectations. QUIZ opened one
new standalone store in H1 2017 and is targeting to open a further
five standalone stores prior to Christmas 2017 in-line with the
Group's strict return-on-investment roll-out strategy. The Group
also opened four new concessions with its existing UK partners.
QUIZ continues to actively manage its retail portfolio and closed
one standalone store and four concessions in the period.
The Group intends to announce its Interim Results for the six
months to 30 September 2017 on 22 November 2017.
Commenting on trading, Tarak Ramzan, Chief Executive Officer,
said:
"We are very pleased with the QUIZ brand's strong growth across
target markets and channels with online in particular experiencing
continued outstanding momentum.
"Our IPO in July 2017 was a hugely important milestone for the
Company as we continue to build the QUIZ brand as a global
fast-fashion destination for customers who want the latest looks at
outstanding value. The QUIZ brand has a distinct USP, a strong
customer connection and fast-fashion in its DNA. Our customer base
is growing strongly and we are confident of delivering further
growth."
---
*Included within this revenue are the results from QUIZ
standalone stores and concessions in the Republic of Ireland,
standalone stores in Spain and franchises in 20 countries.
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
QUIZ plc Via Hudson Sandler
Tarak Ramzan, Chief Executive
Officer
Gerry Sweeney, Chief Financial
Officer
Sheraz Ramzan, Chief Commercial
Officer
Panmure Gordon
(Nominated Adviser and
Sole Broker)
Ben Thorne / Alina Vaskina
/ Andrew Godber (Corporate
Finance )
Erik Anderson / Amy Sarra
(Corporate Broking) +44 (0) 207 886 2500
Hudson Sandler LLP (Public
Relations) +44 (0) 207 796 4133
Alex Brennan quiz@hudsonsandler.com
Sophie Lister
Fern Duncan
About QUIZ
QUIZ is an omni-channel fast fashion womenswear brand,
specialising in occasion wear and dressy casual wear.
QUIZ delivers a distinct proposition that empowers fashion
forward females to stand out from the crowd.
QUIZ's buying and design teams constantly develop its own
product lines, ensuring the latest glamorous looks at value prices.
This fast, flexible supply chain, together with the winning formula
of style, quality, value and speed-to-market has enabled QUIZ to
grow rapidly into an international brand with more than 300
standalone stores, concessions, franchise stores, wholesale
partners and international online partners in 20 countries.
QUIZ operates through an omni-channel, fast fashion business
model, which encompasses online sales, standalone stores,
concessions including, among others, Debenhams and House of Fraser,
international franchises and wholesale.
To download images please visit:
http://www.quizgroup.co.uk/media-download-centre/
For further information:
https://www.quizclothing.co.uk/
http://www.quizgroup.co.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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