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Global growth story at Superdry

Superdry has posted a 6.4% growth in global brand revenue in the six months to 27 October.

The UK clothing brand reported global brand revenues of £831.8m, compared with £781.6m in the same period last year.

Globally store sales, however, declined 2.3%, from £181.3m to £177.4m.

Wholesale sales grew by 7.8% to £171.8m, and ecommerce revenue rose 6.9% to £159.3m.

Group revenue was up 3.1% to £414.6m.

The results follow a profit warning in October, when Superdry said hot weather in the UK, Europe and the eastern US adversely impacted sales through the summer, and into September and October. As a result, is said it would take a £10m hit for the full financial year. 

The brand has made progress in China, adding a further 20 franchise stores.

CEO, Euan Sutherland said: ”We are six months into a product diversification and innovation programme and, as we said in the summer, it will take up to 18 months for the benefits to come through. In the meantime we are well prepared for peak trading and the team remains highly focused on the delivery of sales growth and further efficiencies in the remainder of the year.”

 

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