SuperGroup eyes overseas expansion as profits impress

SUPERGROUP boss Julian Dunkerton said yesterday the company would consider opening more flagship stores across the globe as it recorded a bumper annual profit.

The retailer announced a pre-tax profit for the year to 1 May of £47.3m, up 110 per cent.

A highlight of the year for the company was the purchase of a lease on a Regent Street building which will become its London flagship.

However some analysts suggested that the group could be expanding too quickly and paying above the odds for the prestigious building, the former home of Austin Reed.

But Dunkerton hit back yesterday, buoyed by the company’s profit figures.

“They (the critics) just do not understand retail. We are not a one-logo wonder. We are a lifestyle brand. The doubting Thomases are starting to see that.”

He said that the company was aiming for “proliferation” across the globe and that other high profile stores could enhance the brand.

“Why not? Never say never, we have put international expansion at the heart of our plans.”

Total yearly sales jumped 71 per cent to £237.9m, while revenues in the 10 weeks to 10 July were up 56 per cent.

SuperGroup has opened 40 new stores and concessions in the past year and is also targeting online sales growth. The company floated in 2010, raising more than £120m.