SuperGroup sales up 22.4 per cent - but chief executive Euan Sutherland warns over Christmas

 
Catherine Neilan
Follow Catherine
Euan Sutherland is dreaming of a nice Christmas (Source: Getty)

SuperDry parent company SuperGroup has reported a strong first half, but warned that Christmas could be a challenge with strong comparatives to beat.

The figures

The business has performed well in the first half to 24 October, with sales up 22.4 per cent across the group.

The retail division drove much of the growth, up 30.9 per cent to £172.2m, while wholesale revenues climbed a respectable eight per cent to £82.7m.

The company acknowledged it was up against weak comparitives last year but noted there had been strength in ecommerce and like-for-likes. The wholesale division was slightly affected by the strengthening pound.

SuperGroup has net cash of £80m.

Why it's interesting

A year ago the brand was forced to issue a profit warning on the back of unseasonably warm weather. But a successful Christmas and a new strategy meant SuperGroup was back on track by spring. In July it beat expectations in revenue and earnings.

All that is despite the sudden exit of not one but two key members of the senior team - chief financial officer Shaun Wills, who was forced to step down after being declared bankrupt and chief operating officer Suzanne Given.

What they said

Chief executive Euan Sutherland said: "To support our vision of building Superdry into a global lifestyle brand, we have further improved our infrastructure and developed our product offering, including womenswear, Superdry Sport and Superdry Snow.

"With a successful first half completed, the business is well placed for the all-important peak season and we remain confident of delivering full year profits in line with our existing guidance although comparatives throughout the second half are more challenging."

In short

Christmas could be a challenge because of last year's performance.

Related articles