In the year to 31 March 2024, Quiz saw its revenue fall by 10.6% from £91.7 million to £82 million. The fashion retailer reported a loss before tax of £6.7 million, compared with a profit of £2.3 million the year prior, while EBITDA reduced to £0.9 million in this period. Quiz is now focused on a turnaround strategy to “return the business to profitable growth.” The strategy focuses on leveraging Quiz’s core strengths: a well-established omnichannel model, brand distinctiveness, its store portfolio, and its international model.

Its chief executive, Sheraz Ramzan, said: “While these results are disappointing – partly driven by the challenging macroeconomic conditions affecting many retailers – we have a clear plan to improve performance by leveraging our key strengths as an omnichannel retailer with a distinctive brand.”