Supergroup to reward staff with share scheme

Company founders Julian Dunkerton and James Holder intend to donate 20% of their gain from any increase in the group’s share price over a target of £18.

For each £5 over target the company earns, the founders will put £30m into a trust for its colleagues worldwide – both full and part time – to be shared at the end of the three-year plan period.

Supergroup is hoping the initiative will help it to attract and retain “the very best talent” and in turn ensure it delivers for consumers and investors.

At the end of the three-year period, pay outs could equate to up to £2,000 for the retailer’s junior employees, and £300,000 for its executive team members, over and above existing pay and bonus arrangements.

The group’s chief executive Euan Sutherland and its chief financial officer Nick Wharton have both waived their entitlement to take part in the scheme, ensuring it can cover everyone in the company’s store and head office.

They participate in existing long-term incentive arrangements.

Sutherland said: “SuperGroup’s strategy is delivering for consumers, colleagues and investors, driven by the hard work of our people that drives the relentless innovation across our business.

“We have achieved significant growth in sales and profits across all channels and geographies, while operationally transforming the business as a global team.

“We remain confident in our strategy and believe that this innovative approach to reward for everyone will help us attract and retain the very best talent as we continue to deliver for consumers and create sustainable value for our investors.”