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Store hopes to be unaffected

Debenhams accounts for 23% of Quiz Clothing revenue

Quiz Clothing

Quiz is working with Debenhams on its plans


 

Quiz, the Scotland-based fashion brand, said almost a quarter of its revenue is generated through Debenhams which earlier this week was sold to its lenders and is expected to close 50 stores.

Glasgow-based Quiz said that while Debenhams 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,” said Quiz in a trading update to the market.

It said group revenue increased by 12% to £130.9m during the financial year ended 31 March 2019 (2018: £116.4m). 

Consistent with the trading update issued on 7 March, the board continues to anticipate that the group’s EBITDA will be approximately £4.5m for FY 2019.

The Quiz brand continues to benefit from the G=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:

 

FY 2019

FY 2018

Year-on-year growth

Online

£41.0m

£30.6m

+34%

International

£23.0m

£21.2m

+8%

UK stores and concessions

£66.9m

£64.6m

+4%

Total

£130.9m

£116.4m

+12%

 

Revenue generated from Quiz websites increased by 58% during the year. 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. 

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. Final Results for FY 2019 will be announced on 11 June.



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