Heroic leap in sales for retailer Supergroup

 
Kasmira Jefford
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SUPERGROUP, the company behind the Superdry fashion label, reported a leap in first quarter sales yesterday thanks to overseas expansion and strong demand for its autumn and winter collections.

Shares jumped 5.87 per cent as the retailer posted group sales of £75m in the 13 weeks to 28 July, up 25.7 per cent on the previous year.

Total retail sales rose 17.6 per cent to £53.2m while sales at stores open more than a year – including online sales – rose 8.5 per cent.

Supergroup has reported seven consecutive positive trading quarters since its management reshuffle last year that saw former John Lewis director Susanne Given step into the new role of chief operating officer and Claire Arksey as head of retail.

Chief executive and founder Julian Dunkerton said the move gave him more time to focus on designing better products and improving ranges, which is now boosting sales.

“We have started the year in fine form... The spring summer ranges have performed well across all channels with further progress made in womenswear,” Dunkerton said.

Wholesale sales jumped by 50.8 per cent to £21.8m. However, its autumn winter order book – up 26 per cent – was particularly strong.

Supergroup has also been aggressively expanding, with a net 12 franchises opened across nine countries in the period, taking its franchised estate to 154 stores. It also recently signed with partners in Turkey, Malaysia and Singapore.