SuperGroup upbeat after strong festive trading
SuperGroup, the owner of the Superdry fashion brand, has said its Christmas trading was strong with total retail sales rising by 17.8% in the 11 weeks to 10 January.
Like-for-like sales grew by 12.4%.
SuperGroup said all of its channels and geographical regions performed well with e-commerce sales particularly buoyant in the run-up to Christmas.
The cold weather from Boxing Day onwards resulted in strong sales in outerwear and knitwear, following softer sales during last year’s mild autumn.
With 15 weeks of the current financial year remaining, SuperGroup said the performance meant it was confident of meeting its full year profit target of £60 million to £65 million despite the weakening Euro and one of the group’s important wholesale customers going into administration.
SuperGroup chief executive Euan Sutherland said: “I am pleased to report a very strong set of results over the peak trading period. Our upgraded infrastructure was tested to the full by Black Friday and in the busy lead up to Christmas and has proven to be resilient and effective. A record performance from e-commerce combined with strong store operations led to what became a truly multi-channel Christmas.”
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