SuperGroup sees like-for-like sales growth

SuperGroup, the owner of the fast-growing Superdry clothing brand, saw total sales increase 22% (to £79m) between the end of October and the beginning of January, compared to the same period of 2010.

Like-for-like retail sales, including online, grew 5.8% during the two months and 9.3% in December.

Wholesale sales dropped 4% compared to 2010 as supplier phasing and the migration to SuperGroup's own stores began to take effect.

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The Gloucestershire-based company saw its share price fall 35% in October after announcing a warehousing problem, which it then resolved in December.

Commenting on today's update SuperGroup's Chief Executive Julian Dunkerton said: "Overall, our Retail business has seen an improving sales trend as our stores became better stocked following the resolution of our warehouse issues and the continued demand for our products and brand. We have also successfully opened one floor of our Regent Street store."

Over the last 12 months SuperGroup has fallen 40% although the stock is still 16% above the price it originally listed at in April 2010 .

BS