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SuperGroup sales continue to soar

SuperGroup’s sales continued to rocket in the three months to August 1, with total sales up just under 60% on the same period last year.

Sales totalled £32.8m in the period, with retail sales rising 62.7% to £22.3m and wholesale sales up 53.9% to £10.5m.

The retail performance was driven by the continued roll-out of UK stores for young fashion chain Cult and young fashion brand Superdry, with five new openings in the quarter including the largest store to date at Lakeside shopping centre. The business had 47 stores and 56 concessions at the end of the period, since when two new stores and eight further concessions have opened, seven of them womenswear. More openings are planned pre-Christmas, including a 15,000sq ft store in Glasgow’s St Enoch’s Centre.

The wholesale business has continued to expand internationally, with franchise stores having opened in Belgium, France and Germany, the first in the Middle East is about to open in Dubai, and a series of concessions opening in Taiwan. Franchise stores in Los Angeles and San Francisco are also planned.

“Our new store design is proving to be a great success,” said chief executive Julian Dunkerton, “and we look forward to opening futher womenswear concessions before the busy Christmas trading period.”

The company’s shares slipped 2.5% to 1120p in early trading this morning.

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