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Superdry profits and sales up 100%

Supergroup, the company behind the young fashion brand Superdry and retail chain Cult Clothing, recorded a sales and profits rise of more than 100% in the last five months.

Sales at the group's multi-brand Cult Clothing chain and its mono brand Superdry stores were up a combined 110% over the five month period while wholesale sales of the Superdry brand rose by 100%.

Supergroup profits rocketed by 250%.

Like-for-like sales have risen by 7% over the past six weeks.

Founder Julian Dunkerton said: "It is tough for many businesses, but we have created a brand that has filled a gap in what was an unfulfilled market and while you are in a growth phase you can buck the trend. Key to this is that we are a truly vertical operation, in control of our own destiny."

The business recently opened stores in Bristol and Liverpool which Supergroup said had outperformed expectations.

Two more stores are expected to open in Leicester and Gatwick Airport later this year, while the desisting Covent Garden, London store is being expanded.

Eight more stores are planned for 2009. The openings will be a mixture of Cult and Superdry stores.

Allan Winstanley, director of menswear at House of Fraser, one of Superdry's key stockists, said: "What impresses me is that it is a very well run business and that the staff all live the brand – they are very professional. In the current trading climate it is definitely bucking a trend. House of Fraser is robust while Superdry is trading over and above the average. I am confident that this will continue."

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