SuperGroup cautious about full-year trading outcome
Unseasonal weather and strategic investment impacts on revenues
In today’s trading update covering the 13-week period to 25 October 2014, and the 26-week period to 25 October 2014, an exceptional period of warm weather across the UK and the rest of Europe which is expected to continue into November has resulted in a high degree of uncertainty around the future performance of the autumn/winter range, particularly outerwear which is a significant part of the Superdry product mix.
2015 Q2 saw retail revenues of £71,046, up 11.4% (2014: £63,768)
Wholesale for the same period was £51,298, down 3.7% (2014: £53,262)
Overall revenues for the Group came in at £122,344, up 4.5% (2014 £117,030)
As a result, the Group is adopting a more cautious view on the full-year outcome. Whilst recognising that 70% – 80% of the Group’s full year profit is delivered in the second half of the year, the level of sector discounting and continuing weather related uncertainty, together with the planned strategic investment in the cost base, has led the board to revise its full year profit guidance to a range of £60m-65m.
