SuperGroup sales surge as youth spending stays strong

YOUTH fashion retailer SuperGroup, which floated on the London Stock Exchange in March, saw sales soar by 83 per cent to £139m in the year to 2 May.

The company, whose Superdry brand is sported by celebrities including David Beckham, said it expected to make a pre-tax profit of at least £25.7m.

SuperGroup has 43 standalone stores in Britain, 56 concessions in House of Fraser department stores and a wholesale business in 34 countries.

SuperGroup’s retail like-for-like sales increased 17 per cent over the year, while wholesale sales doubled.

Chief executive Julian Dunkerton said: “The figures are excellent and reflect hard work and our love of the company.

“We are the least affected (by the economic climate). Our customers have to look good on a Friday night.”

Dunkerton, along with SuperGroup’s other management team, shared £105m of the £120m sum for the IPO.

SuperGroup’s IPO was the first significant one to succeed in the British retail sector since Mike Ashley’s Sports Direct floated in 2007 and came just a month after budget fashion retailer New Look postponed its offer.

Seymour Pierce analyst Freddie George said: “SuperGroup should achieve further significant earnings growth over the next two years.”

sales rise in the year to 2 May

total sales

like for like year-on-year retail sales rise

the value of the company’s IPO