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SuperGroup sales and profits soar as it expands overseas

SuperGroup made “significant progress” in the year to April 30, as revenues climbed by 21.3% to £590.1m and its underlying profit before tax rose 16.3% to £73.5m.

Superdry SS16

Superdry SS16

The Superdry owner’s underlying gross margin increased by 60 basis points to 61.5%, on a comparable 52-week basis.

Its underlying operating margin, taking into account initial trading losses in some new markets, was 12.6%.

Retail revenue was up 24.5%, representing like-for-like sales growth of 11.3%, while wholesale revenue increased by 14.2%.

Ecommerce sales now account for 23.1% of the total.

It will pay its first special dividend of 20p per share to all shareholders, in addition to the full-year ordinary dividend of 23.2p per share.

The business launched new Superdry Sport and Idris Elba ranges during the year. Womenswear was the highest-growing category overall.

SuperGroup opened 48 net new international stores during the period, adding 136,000 sq ft of retail space, predominantly in mainland Europe.

Its entrance into the US – where it opened five trial stores – cost £2.9m. 

It will open trial stores in China this summer.

Remarking on his first full year at the helm of the business, chief executive Euan Sutherland said: “SuperGroup has made significant progress this year, delivering double-digit growth in sales and profits, while maintaining momentum against all the elements of our strategy to build a global lifestyle brand.

”Our commitment to deliver long-term sustainable growth is clearly evidenced by the 75% increase in our mainland European store footprint and our continued investment in infrastructure to support our growth plans.

“Looking forward, notwithstanding the current economic uncertainty, we remain well placed. We have a healthy committed new store pipeline in multiple geographies; are making good early progress in the US and China; have clear ecommerce momentum and look forward to delivering the full-year impact from our product innovation.

”The group is financially strong and readily able to fund our planned investment programme and our progressive dividend.”

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