Quiz PLC Post-Close Trading Update (8329V)
April 11 2019 - 2:01AM
UK Regulatory
TIDMQUIZ
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 GBP130.9m during the financial year
ended 31 March 2019 ("FY 2019") (2018: GBP116.4m).
Consistent with the Trading Update issued on 7 March 2019, the
Board continues to anticipate that the Group's EBITDA* will be
approximately GBP4.5m 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:
Year-on-year
FY 2019 FY 2018 growth
----------- ----------- -------------
Online GBP41.0m GBP30.6m +34%
International GBP23.0m GBP21.2m +8%
UK stores and concessions GBP66.9m GBP64.6m +4%
Total GBP130.9m GBP116.4m +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 GBP0.4m 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 / quiz@hudsonsandler.com
Nelly Akpaka
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 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.
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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END
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