Fashion retailer Quiz has swung back to profit and said it was boosted by shoppers buying partywear in the Black Friday sales.
The retailer said it has returned to profitability in the last half year as a result of restructuring and tightly managing costs and stock.
The chain posted pre-tax profits of £1.8 million in the six months to September 30, up from £1.3 million in losses it reported in the same period last year.
It also saw group revenues rise by 37% from £36 million last year to £49.4 million this year, and marking a return to pre-pandemic levels.
This reflected growing demand for partywear as big events returned and following the impact of the Omicron variant last winter.
Stronger sales over recent weeks including the Black Friday sales period helped to offset weaker-than-expected revenues in October, it said.
Quiz said it has been impacted by higher operational costs, like other retailers, as it is "not immune" to cost inflation pressures hitting the industry.
The group, which has 62 stores in the UK as well as 62 concessions in stores such as New Look, said it has continued to cut costs wherever possible to save money.
New route from Scottish airport to Turkey unveiled
A NEW route between Edinburgh and Izmir in Turkey will begin next summer.
SunExpress will operate one flight each week to the Turkish city, nicknamed the ‘Pearl of the Aegean’, between August and October.
Retailers need help in restoring city centre
APPARENTLY diamonds are a girl’s best friend. They also happen to be my birth stone, so I was delighted to recently meet Kyron Keogh, Chair of Glasgow’s City Centre Retail Association and founder of ROX.
We met in his Glasgow showroom, nestled in the heart of Argyll Arcade – Scotland’s largest cluster of diamond retailers and jewellers.
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