SuperGroup “on track for the full year” as like-for-likes edge up

The retailer said sales were suppressed as it reduced its level of clearance activity on eBay to focus on protecting margins.

Supergroup, owner of trendy brand Superdry, said that, adjusted for the impact of eBay, like-for-likes rose 4.9%.

Retail sales soared 18.2% to £113.8m and group sales jumped 22.1% to £141.1m in the 13 weeks to January 26.

In the year to January 26, like-for-likes are up 4.7%, or 7% adjusted for eBay.

SuperGroup said its focus on full-price trading during the quarter meant margin gains achieved in the first half were maintained.

Nine stores were opened in the period and two were relocated. Seven stores transferred from franchised to owned shops following the acquisition of its German agency operation.

SuperGroup chief executive Julian Dunkerton said: “I am pleased that our ongoing strong sales growth and improved margins mean the business remains on track to deliver profit in line with market expectations.

“All infrastructure projects are running to plan, in particular the new distribution centre is already playing a significant role in the delivery of spring/summer products.

“Our strong spring/summer 2014 order book, and the positive responses from both the media and our trading partners to the autumn/winter 2014 range presented at the London men’s fashion week, give me confidence in the product range going forward and the strength of the brand.”