SuperGroup, the young fashion business which owns the brand Superdry and chain Cult, continued its rapid growth for its first quarter with total group sales soaring by 66% to £54m as its wholesale division excelled.
For the three months to July 31 retail sales rose by 51% to £34m with the company experiencing growth across all channels. Wholesale sales shot up by 98% to £21m, which SuperGroup said was due to the increasing success and expansion of its young fashion brand Superdry internationally.
The company’s UK store roll is still on track. The group now has 62 standalone stores after two further outlets opened in the quarter. Since the end of July SuperGroup opened two additional stores and its store roll out programme is set to accelerate in the run up to Christmas.
Chief executive officer Julian Dunkerton said: “We see continued growth across our business - in the UK, overseas and via our internet platform.
“Our domestic and international roll-outs are on track and we remain excited about the Group’s future prospects. We are nevertheless operating in a difficult retail market which reflects the macroeconomic environment.”