Superdry reports strong Q3 sales
SuperGroup, the owner of the Superdry fashion brand, said it was on track to meet its full-year trading expectations, as it reported a 12.3% rise in total sales in its third quarter.
In the 13 weeks ending 27 January, total group sales reached £115.1 million while in the 39 weeks to the same date, sales jumped 14.5% to £273.3 million.
The group said like-for-like sales increased by 10.6% in the quarter driven by strong Christmas sales. Total retail sales in the 13-week period were £89.8 million, an increase of 14.4% in the same period in the prior year with both the internet and standalone stores performing well.
SuperGroup opened new stores in Leeds, Inverness, Paris, and Antwerp in the quarter and also opened its first owned store in Germany in Oberhausen. In the year to date, the group has opened 40,000 square feet of new space and is on track to deliver around 70,000 square feet for the full year.
Wholesale sales for the 13-week period were £25.3 million, up 5.4% on the prior year. SuperGroup said its order book for Spring/Summer 2013 is up around 20% on last year for the season as a whole on a constant currency basis.
The portfolio of franchised stores has increased by 15 during the quarter to 139, with 11 stores opened in Europe and four in the rest of the world.
Julian Dunkerton, chief executive officer, said: "The Retail division has produced a very satisfactory performance during the quarter and in particular over the Christmas period.
"We are pleased by the response of the group’s franchise partners to the Spring/Summer range. The level of the order book for the forthcoming season and the retail performance during the quarter are positive indications of the demand for Superdry product.
"Although trading conditions remain volatile and unpredictable, the year to date results, and the early indications of the response to the new season range, have provided us with ever increasing confidence for the future."
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