SuperGroup fly high
Retail and wholesale operations perform strongly including best ever Christmas trading period over the nine weeks from 1 November 2010 to 2 January 2011.
The Group’s nine-week Christmas trading statement reveals a 93.6% increase in retail sales over the same period last year to £51.7m and a 77.8% increase in wholesale sales over the period to £13.4m.
There was a massive 243.3% increase in internet sales (included within retail).
Total Group sales over the period increased by 90.1% to £65.1m.
Julian Dunkerton, Chief Executive Officer, commented,'This performance demonstrates the strength of our brand and the loyalty of our customers. Such excellent Christmas trading figures, coupled with our continued UK roll-out, international expansion and rapidly evolving internet capability, mean that we are now positioned to deliver profits towards the upper end of market expectations.
'I am also pleased to confirm that as a result of renegotiations with our suppliers and selected price increases we have largely mitigated the rise in cotton prices and there will be no impact to our 2011 gross margins, and we anticipate a reduction of no more than 200 basis points to our gross margins in 2012. We will clearly continue our efforts to reduce this impact with our supply base and look forward to the future with confidence.'
The group, which targets the youth fashion market operates 59 stand-alone stores and 69 concessions.
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