SuperGroup sales soar 90pc over Xmas

 
City A.M. Reporter
SuperGroup, the company behind the Superdry fashion brand, forecast year profit at the upper end of expectations after posting a 90 per cent jump in sales over the key Christmas period.

SuperGroup, whose clothes are a favourite of celebrities such as David Beckham, Leonardo DiCaprio and Zac Efron, said it made sales of £65.1m in the nine weeks to 2 January.

It said retail sales of its trademark T-shirts, hoodies, check shirts and jogging bottoms surged 93.6 percent to £51.7m, while wholesale sales increased 77.8 per cent to £13.4m.

SuperGroup was one of 2010's most successful IPOs, listing at 500 pence in March and hitting a high of 1,660 pence on 13 December

But its shares fell sharply after an earlier update cautioned that raw material prices may affect gross margins in the 2011-12 year.