Quiz swings to profit as it heads into Christmas party dress season
Fashion retailer Quiz has continued to bounce back after a torrid lockdown, swinging back into the black in the first-half of the year.
The retailer – which operates 62 stores in the UK and an e-commerce platform – posted a £1.8m profit before tax, for the six months to 30 September.
It had suffered a loss of £1.3m in the comparable period the year before.
The Scottish-founded firm said its near-term outlook was “difficult to predict” as with many UK retailers, due to the cost of living crisis and cost inflation pressures.
However, bosses continued to expect a full-year outcome that would “be at least in line with market expectations,” ahead of its crucial Christmas trading and January sales periods.
The retailer will be waiting to see how much of an impact the cost of living crisis has on shoppers flocking to its outlets to buy Christmas party dresses.
The crunch would “undoubtedly” impact the business but it would be protected by competitive prices, Sarah Riding, retail partner at Gowling WLG, said.
“In support of this, the company’s omni-channel approach will ensure it is well placed to maximise sales from those searching for the best deals,” she added.