- Retail sales rose 25%
- Wholesale revenue up 43.8%
- Full-year profits in line with market expectation
SuperGroup’s sales have rocketed in an impressive half year, where revenues rose across all divisions.
Revenues soared 31.1% across the group in the six months to October 29.
Total retail sales increased 25% while like-for-like growth was 12.8%, against tough comparables.
Wholesale rose 43.8%, with SuperGroup attributing some of that growth to investments made during the previous year.
The group said it had benefited from sterling’s weakness, with currency headwinds accounting for one third of the growth in each division.
Half-year profits came in at about £20m to £22m, after costs from distribution centre migration and market investment.
It said that full-year profits were expected to be in line with market expectations.
The group opened 12 new stores, all of which were outside the UK.
Overall, it added 19% of new space to its square footage, which now stands at 939,000 sq ft.
The new space contributed 15% of retail revenues.
SuperGroup said it was making “good progress” in its development markets of North America and China.
In the US, the brand experienced “strong” ecommerce growth and opened stores in Manhattan, Philadelphia and Orlando, with all three “performing well”.
Boss Euan Sutherland said: “This is another good performance, particularly when set against last year’s strong first half trading. Our new product ranges continue to perform well and during the second quarter our continuity ranges provided trading resilience when the weather across Europe was unseasonably warm.
“Our focus remains on executing the clear growth opportunities for the Superdry brand, together with key third-quarter trading period ahead of us.
“The long-term opportunity for the brand is underpinned by continued investment in infrastructure and our multichannel strategy that combines the ongoing development of our ecommerce platform with a disciplined approach to new space growth.
“Our ongoing diversification across geography, channel and category, reduces the Group’s reliance on any individual market and provides further confidence in the Group’s future prospects as we develop our global lifestyle brand.”
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