Superdry’s posts strong growth in sales

SuperGroup, Superdry’s parent company, has reported strong growth across the board in its half year trading update.

In the 26 weeks to October 28^th the fashion retailer’s profits jumped just over 20% to £402 million, while global brand revenues rose 25.2% to £756.3 million.

Retail sales performed well, rising 12.8% to £242.7 million, but this was outperformed by a huge rise in wholesale revenues which rocketed 34.1% to £159.3 million.

Ecommerce sales also rose by 31.6% to £61.2 million, outpacing store revenue growth of 7.6% to £181.5 million, with store space also growing 15.4% to over 1 million sq ft.

Chief executive Euan Sutherland said: “We have delivered another strong performance in this half, further demonstrating the unique advantages and attractiveness of Superdry as a Global Digital Brand.

“Our growth has further diversified the brand, both geographically and across channels, which serves to insulate the business from trading conditions in any single market.

“The performance in this half underlines our confidence in both the strength of the brand we are building and the quality of sustainable financial performance we can deliver.”