SuperGroup enjoys strong start with like-for-like sales up 8.5%
SuperGroup, the owner of the Superdry fashion brand, saw its like-for-like sales climb by 8.5% in its first quarter following a strong performance in both its stores and online.
In the 13 weeks to 28 July 2013, total retail sales climbed by 17.6% on the same period last year to reach £53.2 million, while wholesale sales increased by 50.8% to £21.8 million.
Total group sales for the quarter grew by 25.7% to £75 million, which SuperGroup descibed as a “solid trading performance”.
In a trading statement, the group explained that reported revenues for its wholesale business on a quarter-by-quarter basis could be influenced by the timing of dispatches, particularly over the quarter-end. Therefore a better indicator of underlying wholesale performance was the autumn/winter 2013 order book which shows growth of 26% on last year. The group said: “This demonstrates a continued momentum from last season's order book growth of +20%. It is pleasing to note that, within those numbers, UK wholesale has returned to growth.”
One new owned Superdry store was opened in Gatwick North during the quarter and one store was relocated to a larger site within the Silverburn shopping centre in Glasgow. Since the quarter end, four further UK stores have opened adding circa 21,000 square feet to the portfolio.
The portfolio of franchised locations increased by a further net 12 stores during the quarter to 154 stores. Franchised stores were opened in France, Italy, Spain, India, Austria, Monaco, The Philippines, Thailand and Taiwan.
SuperGroup signed exclusive master franchise agreements with two new partners in the period: FJ Benjamin in Malaysia and Singapore and Demsa Group in Turkey.
SuperGroup chief executive Julian Dunkerton said: “We have started the year in fine form and have continued to build momentum in both the Retail and Wholesale divisions. The spring/summer 2013 ranges have performed well across all channels with further progress made in womenswear. I am particularly pleased with the strong growth in the autumn/winter order book which demonstrates further evidence of the continued improvement in our ranges and the enduring appeal of our brand.
“Whilst there is still much to do this year, this performance coupled with our continuing international expansion, in particular the signing of the two new major partners, gives me confidence in our ability to continue to meet expectations as we head into the autumn period."
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