SuperGroup reports fashionable rise in sales

UK fashion retailer SuperGroup on Thursday unveiled a rise in sales for the holiday season as shoppers stocked up on jackets, knitwear and gifting accessories.

UK fashion retailer SuperGroup on Thursday unveiled a rise in sales for the holiday season as shoppers stocked up on jackets, knitwear and gifting accessories.

The FTSE 250 company behind the Superdry brand said total group sales for the 13 weeks to January 27th grew 12.3% to £115.1m. The 39 weeks leading up to the same day jumped 14.5% to £273.3m.

Group gross margin will be about 50 to 75 basis points higher than last year, the group added.

Revenues were driven by a strong Christmas trading period with like-for-like sales for the quarter up 10.6%.

Total retail sales in the 13-week period were £89.8m, up 14.4% on the comparable period in the previous year. Online sales and the group's standalone stores both performed well.

During the quarter the branded clothing company opened stores in Leeds, Inverness, Paris, Antwerp and Oberhausen.

The portfolio of franchised stores increased by 15 during the quarter to 139, including 11 stores opened in Europe and four elsewhere.

Wholesale sales increased 5.4% to £25.3m year-on-year and orders for the Spring/Summer 2013 collection grew 20% on the earlier year for the season as a whole on a constant currency basis.

Julian Dunkerton, Chief Executive Officer, said the retail division produced a "very satisfactory" performance during the quarter, particularly over Christmas.

"We are pleased by the response of the group's franchise partners to the Spring/Summer range," he said.

"The level of the order book for the forthcoming season and the retail performance during the quarter are positive indications of the demand for Superdry product.

"Although trading conditions remain volatile and unpredictable, the year to date results, and the early indications of the response to the new season range, have provided us with ever increasing confidence for the future."

Shares rose 5.76% to 670.00p at 08:24 Thursday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020
Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020