Young fashion business SuperGroup has continued its solid growth posting an 18.5% rise in sales over the last quarter.
In the 13 weeks to October 27 total group sales for the parent company of Superdry rose 18.5% to £116.6m, while revenues for the six months to October 27 increased 21.1% to £191.6m.
Total retail sales during the period grew by 20% to £63.5m, and for the half year rose 18.8% to £116.7m. Like-for-like sales for the quarter were up 7.8%, and up 8.1% for the half year.
SuperGroup added 33,000 sq ft of owned retail space during the quarter taking the total to 573,000 sq ft, a year-on-year increase of 17%. In the UK, the group opened three new stores, and acquired two third-party franchise stores, which were incorporated into the owned store estate.
Wholesale revenues during the quarter increased 16.7% to £53.1m and for the half year rose 24.8% to £74.9m. SuperGroup reiterated that quarterly revenues are influenced by the timing of dispatches, however, the half year revenue growth is in line what it previously guided.
Internationally SuperGroup grew its portfolio of franchised locations by a net 19 stores during the quarter to 173 stores.
Additionally on October 31 the group signed a £3.5m deal to take control of its agency operation in Germany. It acquired seven stores and the rights to the German market, which SuperGroup said would allow the company to benefit from improved wholesale margins, accelerate the roll-out of German stores, and retain the local operational and management expertise.
Chief executive Julian Dunkerton said: “Ecommerce sales from Europe and the rest of the world have now overtaken those from the UK reinforcing our view of the international appeal of the Superdry brand, an important step in delivering our international strategy.
“Our trading performance, the positive customer reaction to new product ranges and the preparation ahead of peak trading, provides me with confidence in our ability to meet market expectations.”