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Sales and profits rise at Supergroup

Supergroup has announced a 22.3% increase in sales to £254.7m for the 26 weeks to October 24, while underlying profit before tax soared 54.4% to £19.3m.

Total retail sales for the period jumped 30.8% to £172.1m, while like-for-likes increased 17.2%. Wholesale revenue increased 7.8% to £82.6m.

Supergroup, which owns the Superdry brand, reported underlying group gross margin was up 110 basis points to 60.1%.

During the half year the business opened 14 new wholly-owned shops adding 63,000 sq ft of space to its portfolio. It also opened 23 new international franchised and licensed shops taking the total to 244 shops.

Euan Sutherland, the firm’s chief executive, said: “SuperGroup has made good progress in realising its strategic objectives in the first half and has delivered profitable growth, while continuing to invest in the business. Central to this is the ongoing process to get ever closer to our customers who clearly appreciate the product innovation that is widening the Superdry offer.”

He added: “With a successful first half completed, the business is well placed for the significant peak trading period. Whilst comparatives in the second half are more challenging, the development of Superdry into a global lifestyle brand is proceeding with pace and this, together with the strength of our product offer and increasing efficiency, will enable us to deliver long-term sustainable growth.”

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