Supergroup on track to become global lifestyle retailer

Superdry parent company SuperGroup is fast becoming a global British casualwear force to be reckoned with, as it posted revenue increases of 21 percent in to 589.5 million pounds.

The Retail division, which includes its star lifestyle brand Superdry, saw year-end sales rocket 24.5 percent to 416 million pounds. Wholesale revenue, up 13.7 percent, benefitted from a strong H2 where sales increased 19.6 percent.

Trading in Q4 was particularly strong, with comps up 15.4 percent and total retail sales 30 percent ahead.

"The group is trading robustly"

Chief executive Euan Sutherland said: "The group has traded robustly throughout the final quarter as we continue to deliver our strategy to create a global lifestyle brand."We have opened 24 net new stores across our targeted European markets and have a strong pipeline of new stores for the new financial year."

SuperGroup, which currently operates in 51 countries with 662 stores and concessions, also said it plans to open two distribution centres this year to better serve customers in Europe and North America.

The company also said it expects underlying pre-tax profit for the year to range 72.5 to 74 million pounds up from 63.2 million pounds a year ago.

Progress in North America and China continues in line with plans and initial losses in these markets will be in line with market guidance, it noted.

Image:Superdry

 

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