SuperGroup, the young fashion business which owns brand Superdry and chain Cult, has revealed a bumper Christmas, with total retail sales surging 93.6% to £51.7m.
In the nine weeks to January 2, wholesale sales grew 77.8% to £13.4m. Total group sales rocketed 90.1% to £65.1m. Online sales grew 243.3%. The business did not provide a like-for-like figure.
Julian Dunkerton, chief executive of SuperGroup said the retailer was “now positioned to deliver profits towards the upper end of market expectations”.
He added that the retailer had been able to “largely” mitigate the rise in cotton prices “as a result of renegotiations with our suppliers and selected price increases”.
He added: “We anticipate a reduction of no more than 200 basis points to our gross margins in 2012. We will clearly continue our efforts to reduce this impact with our supply base and look forward to the future with confidence.”
Dunkerton said the strong performance “demonstrates the strength of our brand and the loyalty of our customers. Such excellent Christmas trading figures, coupled with our continued UK roll-out, international expansion and rapidly evolving internet capability, mean that we are now positioned to deliver profits towards the upper end of market expectations”.