Superdry first half sales impacted by weather
Superdry has increased its first half global brand revenue by 6.4% to £831.8 million although trading in the period was affected by the summer heatwave.
In-store sales were down 2.3% to £177.4 million in the six months to 30 September, but ecommerce sales rose by 6.9% to £65.4 million.
Euan Sutherland, Superdry chief executive, said: “Superdry has made significant progress in the first half. We are six months into a product diversification and innovation programme and, as we said in the summer, it will take up to 18 months for the benefits to come through.
“In the meantime, we are well prepared for peak trading and the team remains highly focused on the delivery of sales growth and further efficiencies in the remainder of the year.”
Superdry continued to roll out RFID in its owned stores in the period and is on track to complete the exercise by autumn 2019. It has also now fully integrated its wholesale, ecommerce and retail inventory into a single stock pool in its EU distribution centre and enabled ecommerce fulfilment from its US distribution facility.
Looking ahead to the full year, the company said it had not yet seen a sustained period of seasonally typical weather. It added: “As highlighted previously, the company’s full year profits are heavily influenced by its performance in the second half, led by cold weather products with jackets and sweats accounting for 55 to 60% of autumn winter sales.”
