SuperGroup unveils strong trading results

Fashion retailer SuperGroup achieved a 14.7 per cent rise in annual sales, boosted by a strong fourth quarter as the company opened new stores.

Fashion retailer SuperGroup achieved a 14.7 per cent rise in annual sales, boosted by a strong fourth quarter as the company opened new stores.

The parent company of the SuperDry clothing range posted sales of £360.1m for the year to April 28th and a 15.3% increase in its last quarter of sales to £86.8m.

SuperGroup said the solid trading performance has left the group well placed to deliver underlying pre-tax profit in line with market expectations. Analysts predict profit before tax between £49.5m to £53.0m with consensus at £51.2m.

In the last quarter, retail sales were up 10.9% year-on-year to £43.8m and wholesale sales up 20.2% to £43.0m.

The group opened 28,000 square feet (sq ft) for its retail division during the quarter, including the 16,000 sq ft northern flagship store at Leeds Trinity and one store in Paris.

For the year, the company added a total of 66,000 sq ft, bringing its portfolio to 113 stores across 537,000 sq ft.

"I am pleased that the fourth quarter has seen a good trading performance against the backdrop of a challenging market given the extended period of cold weather in early spring," said Chief Executive Officer, Julian Dunkerton.

"We have delivered solid sales and profit growth this year at the same time as enhancing financial and operational processes. In addition we have made significant progress with developing our product ranges, especially the improvements in womenswear styling."

He said financial year 2014 will see the group start to move back towards historic levels of space growth as it develops its European presence.

"The investments in IT and logistics will continue to secure and strengthen the business and, with further developments in our ranges planned, I am encouraged by the group's prospects," he concluded.

Shares fell 0.69% to 715p at 08:53 Thursday.

RD

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