UK fashion chain Quiz sales falls 5pc

14 October, 2019 12:00 AM printer

UK fashion chain Quiz sales falls 5pc

LONDON: British fashion chain Quiz announced Friday that the group revenue fell by 5 percent in the six months to Sept. 30, 2019, compared to the same period last year.

Quiz's financial report showed during this period, its revenue decreased by 5 percent year on year to 63.3 million pounds (80 million U.S. dollars), with sales in UK standalone stores and concessions losing by 11 percent to 31.3 million pounds.

Meanwhile, the company's international sales increased by 3 percent to 12 million pounds, mainly driven by the growth in the franchise operations and Spanish stores.

Figures showed that its online revenues grew by 7 percent to 20 million pounds in this period, reports Xinhua.

Data showed that the group's net cash was 7.1 million pounds at Sept. 30, 2019.

Tarak Ramzan, chief executive officer at Quiz, said: "Overall, the Group's trading performance in the first half has been broadly in line with the Board's expectations despite the difficult UK trading environment."

"Sales growth through Quiz's websites has continued, reflecting the investment in our product range and marketing initiatives," said Ramzan.

Founded in 1993, Quiz is headquartered in Glasgow, Scotland, specializing in occasion wear and dressy casual wear, with operating 73 stores and 174 concessions in Britain.