SuperGroup says it is ‘on track’ for the full year
Supergroup, the owner of the Superdry fashion brand, has said it is on track to deliver full year profits in line with expectations after like-for-like sales increased by 1.3% in its third quarter.
In the 13 weeks to 26 January 2014, group sales climbed by 22.1% to £141.1 million while total retail sales rose by 18.2% to £113.8 million. SuperGroup said it had maintained the margin gains achieved during the first half of the financial year following a focus on full-price trading.
During the quarter, SuperGroup opened 14 franchised stores around the world, closed three outlets and transferred seven shops to the retail estate.
Wholesale sales for the 13-week period reached £27.3 million, which was an increase of 41.7% on the prior year.
Never Miss a Retail Update!SuperGroup chief executive Julian Dunkerton said: “I am pleased that our on-going strong sales growth and improved margins mean the business remains on track to deliver profit in line with market expectations.
“All infrastructure projects are running to plan; in particular the new Distribution Centre is already playing a significant role in the delivery of spring/summer products.
“Our strong spring/summer 2014 order book and the positive responses from both the media and our trading partners to the autumn/winter 2014 range presented at the London men’s fashion week, give me confidence in the product range going forward and the strength of the brand.”
