SuperGroup reports rising sales and profit
SuperGroup, the owner of the Superdry brand, has seen a rise in first half sales and profits as it continues to widen its product offering.
In the 26 weeks to 24 October, group revenue climbed by 22.3% to £254.7 million with retail revenue up 30.8% to £172.1 million.
Retail like-for-like sales rose by 17.2% compared to a drop of 4.1% in the same period last year.
Underlying profit before tax increased by 54.4% to £19.3 million.
SuperGroup opened 14 net new owned stores in the period thereby adding an extra 9% of trading space since the year-end.
It also launched 23 new international franchised and licensed stores taking the total to 244.
In addition, the brand continued to invest in ongoing product innovation centred on womenswear and launched its premium Idris Elba menswear collection.
Euan Sutherland, SuperGroup chief executive, said: “SuperGroup has made good progress in realising its strategic objectives in the first half and has delivered profitable growth, while continuing to invest in the business. Central to this is the ongoing process to get ever closer to our customers who clearly appreciate the product innovation that is widening the Superdry offer.
“With a successful first half completed, the business is well placed for the significant peak trading period.”
