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SuperGroup third quarter sales rocket

Sales at young fashion group SuperGroup, owner of the Superdry brand and Cult chain, continued to climb steeply in its third quarter .

SuperGroup, which floated last year, posted a 91.8% increase in retail sales to £61.4m in the period to January 30, bringing the figure for the nine months to that date to £115.8m – an 81.7% increase.

Wholesale sales were up 73.3% to £20.3m during the quarter, due to the ongoing international expansion of the Superdry brand - a 61.9% rise over the nine-month period to £56.2m.

Total group sales rose 86.9% to £81.7m during the quarter and over the nine-month period leaped 74.7% to £172m.

SuperGroup opened six shops during the period, bringing the UK total to 59.

The wholesale division opened a further 15 franchise stores in the same period, including five in Australia, two in France and the Benelux with others in the USA, South Korea and Venezuela bringing the total number of franchise stores to 69. Further stores in Holland, France, Italy, Switzerland, the US, Middle East and Far East are due to open before the end of April 2011. 

SuperGroup is expanding fast internationally, partly through franchising, and last week bought its France and Benelux franchise and distribution partner CNC.

SuperGroup chief executive Julian Dunkerton said: “Such strong results combined with our continued UK roll-out, further expansion across Europe and additional store openings in the Far East, US, Australia and the UAE demonstrate the continued global potential of our brand.”

He added: “Our acquisition of CNC provides an exciting opportunity to further accelerate our European expansion over the coming years.”

Numis analyst Andy Wade said that SuperGroup had made “dramatic progress” since the launch of Superdry in 2003. He said: “We believe the success of the brand is far more than a fad, with success built on a high quality product priced to fill a gap in the market.”

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