Quiz has reported a 17% increase in revenue to £91.7m in the 12 months ending March 31.
In-store sales at the womenswear retailer increased by 23% year on year while online sales grew by 12%. International sales saw a 10% increase year on year.
Quiz said its gross margins were “in line with management expectations and consistent” with last year. It expects increased profitability in the financial year ending March 31, with a profit before tax of no less than £2m.
According to the retailer, inflation and a challenging trading environment impacted its performance in the last quarter and, although it expects “external headwinds” to soften consumer demand, it remains confident for the year ahead.
Tarak Ramzan, chief executive of Quiz, said: “The group delivered a good performance in FY23 achieving revenue growth across each of its channels, reflecting the strength of Quiz’s trademark dressy and occasionwear product offering.
“This outcome, which was achieved despite the challenging market backdrop in recent months, is a strong testament to our flexible model and differentiated brand.
“While the external trading environment is expected to remain challenging in the near term, we remain highly confident in the group’s long-term prospects.”
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