Supergroup makes "progress on all fronts" as sales and profits rise
Supergroup, the owner of the Superdry clothing brand, has reported making Â“progress on all frontsÂ” as like-for-like sales climbed by 8.1% in the first half of its financial year.
In the 26 weeks ending 27 October, underlying pre-tax profits surged by 21.8% to £17.9 million while group revenue rose by 21.4% to £192.1 million.
Retail revenue increased by 19.3% to £117 million boosted by a 29.3% rise in full price internet sales.
Supergroup said it had seen strong online performances in its key European markets which had been supported by developments to the group’s e-commerce websites. Total internet sales rose by 18.7% as online sales from overseas surpassed those of the UK for the first time.
Wholesale revenue climbed by 25% to £75.1 million.
During the period, Supergroup opened eight new owned stores adding 38,000 sq ft to its portfolio. It also opened five new international franchised and licensed stores, taking the total to 192, and opened the first eight Spanish concessions in the El Cortes Ingles department stores.
Julian Dunkerton, chief executive of Supergroup, said: "In a year that the group is focusing on significant infrastructure investment our trading momentum has continued with strong increases in revenue and underlying profit giving us confidence for the future.
"The product developments across the two most recent seasons, in particular in womenswear, have helped to deliver like-for-like growth. I am also pleased to report that the spring/summer 2014 order book is showing growth of circa 26%, demonstrating the continuing momentum in the wholesale business.
"E-commerce continues to thrive and international sales represented a greater proportion of internet sales than the UK, indicating strong global demand for the brand. Superdry products are now sold globally through stores in 41 countries and the 16 international websites which, together with the group’s investment plans, will continue to drive further international awareness of the brand."
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