Superdry sees bounce back in in-store sales
Superdry has grown its full year revenue by 8% to £600.7 million year-on-year as it continues its brand reset and focuses on full price sales.
The fashion brand’s store revenue recovered after the impact of Covid-19 lockdowns with a full year uplift of 59.8% to £224.5 million on the prior year, but was still down 21.8% on a two year basis due to footfall remaining significantly below pre-Covid levels. Online revenue fell by 24% in the year following an element of channel shift back to physical trading, as well as reduced promotional activity, which was in line with Superdry’s focus on full price sales.
Julian Dunkerton, Superdry chief executive, said: “We continue to execute our strategy of returning the Superdry brand to a premium position and I am excited by the progress we are making. Despite the ongoing tough trading conditions and turmoil in the market, our focus on full price trading will deliver a strong gross margin improvement for FY22.
“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver product that stands for what is important to them: quality, style and sustainability at great value.”