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Quiz annual revenue slumps 66% as pandemic bites
StockMarketWire.com
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Fashion retailer Quiz said its annual revenue had slumped 66%, due to Covid-related store closures and a drop in demand for occasionwear because social events were curtailed.
Revenue for the year through March fell to £39.7 million, down from £118.0 million year-on-year.
Following the relaxation this week of lockdown restrictions, Quiz said 36 stores and 87 concessions in England and Wales were now reopened.
It was currently anticipated that stores and concessions in Scotland and Northern Ireland would reopen on 26 April, although that remained subject to confirmation.
'The group continues to focus on identifying and delivering new opportunities to grow revenues through its own website and store network, as well as by working with new partners appropriate for the Quiz brand,' the company said.
'The group looks forward to the further reopening of stores and concessions and the continued relaxation of restrictions on social activities, which the board believes will result in increased demand Quiz's ranges which have traditionally provided popular options for social events and celebrations.'
Story provided by StockMarketWire.com
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