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Quiz's own website now key growth driver

Quiz’s non-executive chairman Peter Cowgill is set to address the fashion retailer’s AGM today and detail the company’s digital developments and overall performance.

Among the updates will be a progress report on the business’s website, which continues to drive a greater percentage of the retailer’s sales, as well as news of a £400,000 hit related to debtor balances around House of Fraser’s collapse last month.

Quiz has historically operated 11 House of Fraser concessions and sold its products through the department store chain’s website, which has spent much of the time since Sports Direct’s takeover of the company non-operational due to disagreements with suppliers.

“We continue to focus on maximising the Quiz brand's online potential by investing in our websites' and apps' on-going development as well as effective marketing activity,” Cowgill will say.

“In line with our strategy and as anticipated, we are now generating stronger growth through Quiz’s own websites compared to third-party websites, which experienced exceptional growth last year following the launch of partnerships with Zalando and Next.”

UK stores and concessions have reportedly performed well during the year to date despite the previously reported drop in footfall during April, while the business continues to review opportunities for further expansion of the store estate in line with a “strict internal return-on-investment criteria”. 

“Our international business has continued to grow and develop in line with our expectations,” Cowgill is due to say.

“Despite an uncertain trading environment, we believe that the group, underpinned by the strength of the Quiz brand as well as its flexible, omnichannel model, remains well positioned for continued strong growth. At this stage, and with important trading periods in the second half of the financial year still to come, the board remains confident that Quiz is on track to deliver market expectations for the full year.”

A trading update for the six months to 30 September 2018 will be provided on 11 October 2018, with interim results set for late November 2018.

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