SuperGroup on track after ‘robust’ final quarter
SuperGroup, the owner of the Superdry fashion brand, has said it is on track to meet its full-year profit expectations after reporting that like-for-like sales increased by 11.6% in its final quarter.
In the 15 weeks to 25 April, group revenue rose by 18.4% to £134.8 million as retail revenue climbed by 20.6% to £76 million.
SuperGroup chief executive Euan Sutherland said: “The group traded robustly throughout the final quarter. Our focus remains on the creation of a global lifestyle brand, through the extension of the Superdry brand and execution of clear retail growth opportunities, under-pinned by continued investment to strengthen our business.”
Revenue for the full financial year increased by 12.5% to £484.7 million.
The group said sales from new and annualising retail space contributed 11.9% growth over the full financial year after the opening of 24 net new stores. In addition, 29 franchise stores were opened in the period. Meanwhile, online sales grew by 39.5% year-on-year.
Sutherland added: “A strong pipeline of new stores in our targeted European markets, e-commerce momentum, the acquisition to take control of our brand in North America and the opportunity to increase awareness through our global collaboration with Idris Elba provide confidence for continued growth.”
The group said it expects full-year underlying profit will be in line with previous guidance at between £60 million and £65 million.
