14th Jan 2022 09:56
(Alliance News) - Shares in Quiz PLC were in demand on Friday after the fashion brand reported buoyant trading over the festive period.
Shares surged 8.7% in London on Friday morning to 17.10 pence each. The stock has more than doubled in the past year.
Quiz posted revenue for December of GBP8.8 million, 20% higher than GBP7.4 million a year before. The increase was in line with the company's guidance.
Growth was driven by sales from UK stores and concessions which rose 64% year-on-year to GBP5.2 million; however, online revenue took a hit, falling 26% to GBP2.1 million. The decline in online trade was attributed to the termination of third-party partnerships during the year.
International revenue, which comprised 5 stores and 15 concessions in Ireland and international franchise partners, increased 11% to GBP1.5 million. Quiz said it is confident in the brand's potential for "long-term international growth" and continues to pursue opportunities in line with its strategy.
"The board was pleased with the performance achieved in the period given the challenging trading conditions, notably the widespread cancellation of social events and the introduction of formal restrictions on social activities in Scotland, Wales, and across Ireland following the continued rise in Covid-19 cases throughout December," Quiz said.
By Will Paige; [email protected]
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