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Post-Close Trading Update

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RNS Number : 8329V
Quiz PLC
11 April 2019
 

 

 

 

 QUIZ Plc

 

("QUIZ" or the "Group")

 

Post-close Trading Update

For the year ended 31 March 2019

 

Growth online and across international markets

 

QUIZ, the omni-channel fast fashion brand, announces Group revenue increased by 12% to £130.9m during the financial year ended 31 March 2019 ("FY 2019") (2018: £116.4m).

 

Consistent with the Trading Update issued on 7 March 2019, the Board continues to anticipate that the Group's EBITDA* will be approximately £4.5m for FY 2019.

 

The QUIZ brand continues to benefit from the Group's omni-channel model with continued expansion, particularly online and across targeted international markets. The growth in each revenue stream during FY 2019 was as follows:

 

 

FY 2019

FY 2018

Year-on-year growth

 

 

 

 

Online

£41.0m

£30.6m

+34%

International

£23.0m

£21.2m

+8%

UK stores and concessions

£66.9m

£64.6m

+4%

Total

£130.9m

£116.4m

+12%

 

The Group's online revenue reflects sales made through QUIZ's own websites, as well as through a number of third-party websites. Revenue generated from QUIZ websites increased by 58% during the year, reflecting the impact of the increased marketing spend undertaken.

 

The growth in International sales reflects continued growth from our franchise business and the impact of opening three standalone stores in Spain during the previous year.

 

The Group's UK standalone stores and concessions revenue benefited from the opening of three new standalone stores and the relocation of two stores into larger refurbished units in the financial year. As part of our active management of our retail portfolio, two stores closed in the year.

 

We note the recent announcement from Debenhams plc that whilst they have entered into administration the underlying operating companies continue to trade as normal with suppliers expected to be unaffected. QUIZ operates 108 Debenhams concessions in the UK and 11 in the Republic of Ireland and sells its product through the Debenhams website.  Revenues from these activities represented 23% of overall revenues generated during FY 2019. We look forward to continuing to work productively with Debenhams going forward.

 

The Board previously noted that it is undertaking a thorough review of all aspects of the business with a view to mitigating the effects of slower than anticipated growth during the year. We will report the findings from this review when we announce our Final Results for FY 2019 on 11 June 2019.

 

---

 

* Excluding the previously announced write-off of £0.4m debt arising from the administration of House of Fraser.

 

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 (Corporate Finance)

Erik Anderson (Corporate Broking)

 

+44 (0) 207 886 2500

Hudson Sandler LLP (Public Relations)

+44 (0) 207 796 4133

Alex Brennan / Sophie Lister / Nelly Akpaka

 

[email protected]

 

About QUIZ

 

QUIZ is an omni-channel fashion brand, specialising in occasion wear and dressy casual wear.

 

QUIZ delivers a distinct proposition that empowers fashion forward customers 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 div, 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.

 

QUIZ operates through an omni-channel, fast fashion business model, which encompasses online sales, standalone stores, concessions, international franchises and wholesale arrangements. As at 11 April 2019, QUIZ had 71 stores and 168 concessions in the UK.

 

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/


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