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.
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.
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
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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published