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QUIZ gets it right as fast fashion chain's revenues meet City expectations

The company's online business was the main growth driver
fast fashion
Sitting pretty: The shares rose 5% on the back of the trading update

The fast fashion business QUIZ PLC (LON:QUIZ) grew revenues by 30% in the year ended March, with the online business driving the clothing group.

Online, which grew 158%, is now the second-largest operation with sales of £30.6mln, though it is still less than half the size of UK stores and concessions which turned over £64.6mln. That said, the core business advanced at a less stellar pace of 12%.

If you took out of the sales equation non-recurring wholesale revenues from Spain QUIZ’s overall top-line growth rate was an even more healthy 36%. The figures were in line with market expectations.

The company, which was founded in Glasgow in 1993, joined the market back in July valued at £200mln, raising around £100mln in the process, mainly for the company’s founding investors.

Delighted with performance post-IPO

"We are delighted to have successfully completed our first financial year since our IPO in July,” said chief executive Tarak Ramzan.

“This strong performance reflects the growing strength of the QUIZ brand and the continued growth across each of our sales channels and target markets."

 "We look forward to expanding the QUIZ brand as a global fast-fashion destination for customers who want the latest looks at outstanding value with initiatives such as the launch of own language international websites and the continued expansion of our product range.”

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