SuperGroup like-for-likes surge in the second quarter against weak comparatives as it hires a global retail director to strengthen its logistics.
Superdry owner SuperGroup recorded a 15.5% increase in retail like-for-likes during the quarter ended October 24 as group revenues for the half increased by 22.4% to £254.9m.
The fashion group also revealed it has appointed Nick Tatum as its global retail director, who will be responsible for the company’s retail operations and logistics.
SuperGroup said the appointment completes the recruitment of its executive team. Tatum has spent the majority of his career at Tesco, where he held a number of senior roles in store retail operations and commercial category management.
SuperGroup chief executive Euan Sutherland said: “The group traded positively throughout the first half of FY16. To support our vision of building Superdry into a global lifestyle brand, we have further improved our infrastructure and developed our product offering, including womenswear, Superdry Sport and Superdry Snow.
“With a successful first half completed, the business is well placed for the all-important peak season and we remain confident of delivering full-year profits in line with our existing guidance, although comparatives throughout the second half are more challenging.”
During its first half SuperGroup’s wholesale division recorded 8% growth, bringing in new revenue from its North American operation and improving growth in its core franchise business.
During the first half the fashion retailer opened 14 net new store, 11 of which were outside the UK and Republic of Ireland.
New retail space contributed 14.1% sales growth over the period.
No comments yet