Profits rocket for SuperGroup
For the 26 weeks to October 31, pre-tax profit was £14.6m in the first half of the year. Underlying pretax profit surged 68.9% to £13.5m.
Total sales were up a massive 65% to £90.3m. Retail sales increased 72% to £54.4m, reflecting the retailer’s expansion from 42 stores to 55 during the period. The business opened 13 concessions during the period.
Landlords are still offering the company lease incentives and is “taking advantange of these wherever possible”.
The retailer said: “The early signs of Christmas trading are very encouraging and we are well positioned to capitalise on the remainder of this busy trading period.”
Underlying operating margin increased marginally to 14.9% from 14.8% compared to the same period last year.
Online sales had a stellar performance and were up 140% on last year.
SuperGroup chief executive Julian Dunkerton said, “We are delighted to report such strong growth in the first half of the year. We are very pleased by the progress being made across the whole business, particularly with our recent Autumn/Winter range and the new store fit-out, which are delivering improved business performance and profitability.”
The Retail Bulletin is organising their 2nd Multichannel Summit, to be held in London February 2nd 2011. The event is sponsored by k3 retail and will look at how retailers can maximize profits, market share and loyalty through cost effective, seamless, integrated multichannel strategies.
If you would like to attend as either a delegate or Networking Partner, go to www.retailbulletinconferences.com/multichannel2011
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