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Superdry achieves strong full year sales growth

Superdry owner SuperGroup has grown its full year revenues by 21.1% to £589.5 million as it focuses on category led product innovation and geographic and channel expansion.

GENERAL MERCHANDISE

Superdry achieves strong full year sales growth

Superdry owner SuperGroup has grown its full year revenues by 21.1% to £589.5 million as it focuses on category led product innovation and geographic and channel expansion.

In the year to 23 April, the retail division increased its revenues by 24.5% with like-for-likes sales climbing by 11.3%.

As a result, SuperGroup expects underlying pre-tax profit for the year to be in the range of £72.5 million and £74 million.

In a statement, the company said progress in North America and China is going according to plan and that initial losses in the regions will be in line with market guidance. This will lead to a small year-on-year dilution of operating margin.

Wholesale revenue grew by 13.7% in the year following a strong second half performance.

As well as opening new stores, the company plans to introduce two new distribution centres during 2016 to serve its retail customers in Europe and North America.

Euan Sutherland, SuperGroup chief executive, said: "The group has traded robustly throughout the final quarter as we continue to deliver our strategy to create a global lifestyle brand. We have opened 24 net new stores across our targeted European markets and have a strong pipeline of new stores for the new financial year.

“Our focus remains on the extension of the Superdry brand and execution of clear growth opportunities, under-pinned by continued investment in infrastructure to strengthen our business."

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