Superdry owner outperforms rival retailers

 
Kasmira Jefford
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SUPERGROUP chief executive Julian Dunkerton said the success of its fashion brand this year had “left rivals behind” as the company reported a 21 per cent jump in sales in the first half to £192m.

Dunkerton, who founded the business almost 30 years ago, said the company had reached a “turning point” where it had left competitors struggling to offer “the same quality at our price”.

Like-for-like sales grew by eight per cent in the period while online sales were up 18.7 per cent, led by its overseas business which overtook UK internet sales for the first time in its history.

He added that the retailer would continue to stand by his policy of not going on sale, comparing rivals who have already kicked off promotions ahead of Christmas to “lemmings following each other off a cliff”.

While sales soared pre-tax profits nevertheless fell 28.8 per cent to £9.9m after it invested heavily in its expansion overseas and buying out its Spanish distribution partner.

First-half wholesale sales increased 25 per cent, while the wholesale spring/summer order book for 2014 was up 26 per cent on 2013.