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SuperGroup first quarter sales rise ahead of 'strong' autumn 13 orders

SuperGroup has reported a “solid” total group sales growth of 25.7% to £75m for the 13 weeks to July 28.

Retail sales of Superdry’s parent company were up 17.6% year-on-year to £53.2m, with own store and e-commerce like-for-like sales increasing by 8.5%.

Wholesale revenues were £21.8m, an increase of 50.8% on the prior year. Looking ahead it has 26% year-on-year growth in orders for autumn 13.

SuperGroup opened one new store, in Gatwick North, and one store was relocated to a larger site within the Silverburn shopping centre, Glasgow. Since the quarter end, a further four stores have opened in the UK, adding 21,000 sq ft to the group’s retail footprint. 

Franchised stores were opened in France, Italy, Spain, India, Austria, Monaco, The Philippines, Thailand and Taiwan. The group also signed franchise agreements with two new partners, FJ Benjamin in Malaysia and Singapore and Demsa Group in Turkey.

Julian Dunkerton, chief executive at Superdry said: “We have started the year in fine form and have continued to build momentum in both the retail and wholesale divisions. The spring 13 ranges have performed well across all channels with further progress made in womenswear.

“I am particularly pleased with the strong growth in the autumn order book, which demonstrates further evidence of the continued improvement in our ranges and the enduring appeal of our brand.”

He added: “Whilst there is still much to do this year, this performance coupled with our continuing international expansion, in particular the signing of the two new major partners, gives me confidence in our ability to continue to meet expectations as we head into the autumn period.”

Market expectations for the financial year ended 27 April 2014 for the group are placed at £60m.

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