Quiz PLC Trading Update (8621G)
April 01 2022 - 2:00AM
UK Regulatory
TIDMQUIZ
RNS Number : 8621G
Quiz PLC
01 April 2022
1 April 2022
QUIZ Plc
("QUIZ" or the "Group")
Trading Update
QUIZ, the omni-channel fashion brand, is pleased to provide a
trading update for the financial year ended 31 March 2022 ("FY
2022").
FY 2022 Trading Update
The positive sales momentum previously reported by the Group
during the Christmas trading period continued through the final
quarter of the Group's financial year. This encouraging momentum
was achieved across both the Group's store and concession portfolio
as well as its e-commerce website, and resulted in like-for-like
revenues broadly consistent with those generated in FY 2019, prior
to the impact of COVID-19.
As a result of this strong performance, total FY 2022 Group
revenue is expected to be ahead of expectations at approximately
GBP78.0 million.
Furthermore, the Group is pleased with the gross margin
generated across the year, and that the gross margin recorded in
the last quarter was consistent with the same period in FY 2019.
This was driven by strong full-price sell through of QUIZ's
trademark occasionwear and dressy casualwear products in response
to the increased prevalence of social occasions such as weddings,
and holidays compared to the previous year.
QUIZ is therefore pleased to confirm that it anticipates
reporting a return to profitability in FY 2022 with an EBITDA
generated of no less than GBP4.3 million and a profit before tax of
no less than GBP0.5 million.
Cash Position
As at 30 March 2022, the Group had a net cash balance of GBP4.2
million,a comprising a cash balance of GBP5.6 million offset by a
GBP1.4 million drawdown of available bank facilities. It has a
total of GBP3.5 million of bank and credit facilities available to
it which are scheduled for renewal in September 2022. There are no
financial covenants applicable to these facilities.
Outlook
Encouraged by the positive performance delivered during the
year, which highlights the strength and awareness of the QUIZ brand
and the growing customer demand for its trademark dressy and
occasion wear offering, the Board is confident in the Group's
continued profitable revenue growth.
FY 2022 Results
QUIZ expects to publish its FY 2022 results for the financial
year ended 31 March 2022 in July 2022.
ENDS
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/201 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
Enquiries :
QUIZ plc Via Hudson Sandler
Tarak Ramzan, Chief Executive
Officer
Gerry Sweeney, Chief Financial
Officer
Sheraz Ramzan, Chief Commercial
Officer
Panmure Gordon
(Nominated Adviser and Sole Broker)
Alina Vaskina (Corporate Finance)
Erik Anderson (Corporate Broking) +44 (0) 207 886 2500
Hudson Sandler LLP (Public Relations) +44 (0) 207 796 4133
Alex Brennan quiz@hudsonsandler.com
Lucy Wollam
About QUIZ
QUIZ is an omni-channel fashion brand, specialising in occasion
wear and dressy casual wear. QUIZ delivers a distinct proposition
that empowers its fashion forward customers to stand out from the
crowd.
QUIZ's buying and design teams constantly develop its own
product lines, ensuring the latest glamorous looks at value prices.
This fast, flexible supply chain, together with the winning formula
of style, quality, value and speed-to-market has enabled QUIZ to
grow rapidly into an international brand with stores, concessions,
franchise stores, wholesale partners and international online
partners.
QUIZ operates through an omni-channel business model, which
encompasses online sales, standalone stores, concessions,
international franchises and wholesale arrangements.
To download images please visit:
http://www.quizgroup.co.uk/media-download-centre/
For further information:
https://www.quizclothing.co.uk/
http://www.quizgroup.co.uk/
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END
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