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SuperGroup sales rise as floor space expands

SuperGroup’s sales rose by 14.7% in the year to April 28 as the business expanded retail space in the UK and beyond.

Retail like-for-likes rose 6.9% - an improvement on 2012’s flat performance - and one which chief executive Julian Dunkerton put down to improvements in product ranges.

Total group sales rose to £360.1m, with the retail arm driving much of this growth, with full year sales up 18.3% in the retail division alone.

Supergroup said it was now “well placed to deliver underlying profit before tax in line with market expectations” of around £50m.

It benefited from a total 66,000 sq ft increase in the property portfolio throughout the year, including a 16,000 sq ft “northern flagship” at new shopping development Trinity Leeds. SuperGroup also opened one store in Paris.

The wholesale arm grew at 9.2%, largely thanks to strong international demand, which saw new franchises open in France, Spain, Denmark, India and Lebanon, although some stores were closed in Italy and Jordan.

The business stripped out its fourth quarter performance as well, in which total group sales rose 15.3% to £86.8m.

Dunkerton said he was pleased with this performance “against a backdrop of a challenging market, given the extended period of cold weather in early spring”.

He added: “We have delivered solid sales and profit growth this year at the same time as enhancing financial and operational processes.  In addition we have made significant progress with developing our product ranges, especially the improvements in womenswear styling. “

Dunkerton said 2014 would see SuperGroup “start to move back towards historic levels of space growth as it develops its European presence”.

“The investments in I.T. and logistics will continue to secure and strengthen the business and, with further developments in our ranges planned, I am encouraged by the group’s prospects.”

Readers' comments (1)

  • Awesome business. Still, I struggle to understand how constant c50% markdown on eBay doesn't do any damage to wholesale orders / full price sell throughs. Anyone care to explain?|3034|4250|4251|15724|93427|169291&_aspects=Brand~Superdry

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