Supergroup plans Europe expansion

 
Kasmira Jefford
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THE COMPANY behind the Superdry fashion brand said yesterday it plans to fire on all cylinders and step up its expansion in Europe after posting a healthy rise in fourth quarter sales.

Supergroup said it will roll out more stores in Germany, UK, France, Holland and Belgium after “a year of consolidation” that saw it overhaul its management team and bolster its IT system after a series of glitches that sparked two profit warnings last year.

Chief executive Julian Dunkerton said its first store in Germany, which opened in last November was performing “above expectations”, giving it the confidence to open more stores in the country.

Supergroup shrugged off the cold March weather that has plagued retailers, with sales at stores open more than a year up five per cent in the quarter.

Total sales rose 15.3 per cent to £86.8m and wholesale sales increased 20 per cent to £43m, thanks to strong overseas demand.