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SuperGroup pushes button on expansion

SuperGroup, owner of young fashion brand Superdry and the Cult Clothing chain, is poised to expand its retail offer in the UK and overseas after posting a strong set of annual results - its first as a publicly listed company.

The 46-store business, which posted £22.5m in pre-tax profits, up £14.6m for the year to May 2, plans to open about 20 UK stores per year and open outlets overseas.

It will open its largest Cult Clothing store at 18,000 sq ft, in Lakeside, Essex, on July 24. In the past year the group opened 20 stores in locations such as Cardiff’s St David’s Centre. Overseas, it has 39 franchise stores in 14 countries.

Full-year group revenue grew 83.1% to £139.4m while like-for-like sales rose 17%. Wholesale revenue rose 94.4% to £53m and retail revenue jumped 76.8% to £86.4m.

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