THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Supergroup achieves strong first half growth

Supergroup, the owner of the Superdry brand, has seen it first half revenues climb by 31.1% to £334 million as it benefited from the weak pound. The impact of currency changes accounted for around one third of growth in each of its operating divisions.

GENERAL MERCHANDISE

Supergroup achieves strong first half growth

Supergroup, the owner of the Superdry brand, has seen it first half revenues climb by 31.1% to £334 million as it benefited from the weak pound. The impact of currency changes accounted for around one third of growth in each of its operating divisions.

In the six months to 29 October, total retail sales climbed by 25% with like-for-like sales growth of 12.8%. Wholesale revenue increased by 43.8%.

Euan Sutherland, Supergroup chief executive, said: "This is another good performance particularly when set against last year's strong first half trading. Our new product ranges continue to perform well and during the second quarter our continuity ranges provided trading resilience when the weather across Europe was unseasonably warm.”

During the period, Supergroup opened 12 owned stores, all of which were outside the UK. It also opened new distribution facilities in Europe and the USA which will be fully operational in 2017.

The company said it had made good progress in its development markets of North America and China.

Supergroup anticipates that full year profit will be in line with market expectations and that the half year profit, after distribution centre migration costs and development market investment will be in the range of £20 million and £22 million.

Sutherland added: “Our focus remains on executing the clear growth opportunities for the Superdry brand, together with key third quarter trading period ahead of us.

“Our ongoing diversification across geography, channel and category, reduces the Group's reliance on any individual market and provides further confidence in the Group's future prospects as we develop our global lifestyle brand."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process