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SuperGroup appoints global retail director as sales grow

Superdry

Superdry

SuperGroup reported group revenue increased by 22.4% to £254.9m for the half-year period ended October 24, driven by retail revenue which was up by 30.9% to £172.2m.

The firm has also appointed Nick Tatum as global retail director, with responsibility for the group’s retail operations and logistics.

Tatum was most recently UK commercial food strategy and change director at Tesco until May 2015 and has held roles at the supermarket chain since 2003 including store director and category director.

Retail like-for-likes were up by 17.2% for the 26-week period, against a fall of 4.1% during the same time last year. SuperGroup opened 14 net new stores, of which 11 were outside the UK and Republic of Ireland.

The group’s wholesale revenues rose by 8% to £82.7m, mainly reflecting new sales from the group’s North American operation together with continued growth in core franchise and wholesale operations.

Gross margin for the first half is expected to have strengthened ahead of guidance for the full year thanks to higher margin retail sales, which were partially offset by the impact of currency movements.

“To support our vision of building Superdry into a global lifestyle brand, we have further improved our infrastructure and developed out product offering, including womenswear, Superdry Sport and Superdry Snow,” said chief executive Euan Sutherland.

“With a successful first half completed, the business is well placed for the all-important peak season and we remain confident of delivering full year profits in line with our existing guidance although comparatives throughout the second half are more challenging.”

SuperGroup had 100 stores in the UK and Republic of Ireland by the end of the period, in addition to 77 in Europe and 15 in North America. 

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