Strong sales of occasion wear and dressy casualwear drive growth

  • Quiz anticipates profitability of at least £4.3m in FY 2022
  • Positive sales momentum during Christmas period and Q4
  • Group revenues expected to be ahead of expectations at approximately £78m
  • Like-for-like revenues consistent with FY 2019 levels
  • Strong full-price sell through of occasion wear and dressy casualwear products
  • Increased social occasions such as weddings and holidays
  • £3.5m bank and credit facilities available for renewal in September 2022

Fashion retailer Quiz has announced its anticipation for a profitability of at least £4.3m in FY 2022, driven by positive sales momentum during the Christmas period and Q4. The group’s revenues are expected to be ahead of expectations at approximately £78m. Like-for-like revenues have remained consistent with those generated in FY 2019, prior to Covid-19 impact. Quiz attributes this growth to strong full-price sell through of occasion wear and dressy casualwear products due to increased social occasions such as weddings and holidays. The group also reported £3.5m bank and credit facilities scheduled for renewal in September 2022 with no financial covenants.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Quiz’s financial performance and expectations for FY 2022. It includes relevant details about sales momentum, revenues, gross margin, and the company’s confidence in continued profitable growth.
Noise Level: 4
Noise Justification: The article provides relevant information about Quiz’s financial performance and expectations for the upcoming fiscal year. It includes specific numbers and comparisons to previous years, as well as details on the company’s confidence in its growth. However, it lacks a deeper analysis or exploration of broader trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Quiz’s stock price and fashion retail sector
Financial Rating Justification: The article discusses the financial performance of Quiz, a fashion retailer, and its expectations for profitability and revenue. This is relevant to finance as it impacts the company’s value and can affect the stock price in the fashion retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the article.

Reported publicly: www.retailsector.co.uk