SuperGroup on track after warehouse fiasco
SuperGroup posted a 42% increase in group sales for the three months to 30 October as its recovery plan, following problems with new warehouse systems, pushes ahead.
SuperGroup posted a 42% increase in group sales for the three months to 30 October as its recovery plan, following problems with new warehouse systems, pushes ahead.
Shares in Supergroup, owner of the Superdry brand, plummeted last month after it revealed a botched upgrade to a warehouse system led to shortages in stock levels.
"Progress has been made in restoring the replenishment capability and further improvements are expected during November," the fashion retailer said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Supergroup previously announced that the impact of the disruption on annual profits will be around £6m-£9m.
Retail sales in the last three months, which were affected by the temporary disruption to warehouse operations, rose 23% to £40m. Wholesale sales, which were unaffected by the distribution issues, rose 67% to £42m.
Meanwhile its UK rollout remains on track with the number of standalone stores up by 12 in the first half bringing the total to 72. A further four stores are due to open before Christmas.
The group's flagship store in Regent Street, London, also continues to make progress and is on track to be fully open by the end of this financial year, it said.
Chief executive Julian Dunkerton said, "While this has been a demanding period for SuperGroup logistically, we are well on the road to rectifying the situation and have learned valuable lessons in the process."
"The broader macro and consumer environment remains uncertain. However, we look forward to the peak season with a growing portfolio of stores both in the UK and internationally and confidence in the future growth of the business."
--
cj
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran