SuperGroup sees pickup in sales

Fashion chain SuperGroup has said its sales growth is picking up as revenues jumped to £54m in the three months to August, 66 per cent per cent higher than in the same period in 2010.

SuperGroup, which sells Superdry-branded clothes, saw its wholesale sales almost double £21m in the period on higher international demand for its tshirts and hooded jumpers.

The results have sent shares in the chain up 5.8 per cent in early trading as investors gained confidence that the company’s growth was back up to speed.

Chief executive Julian Dunkerton said the group was seeing continued growth but cautioned that the UK high street environment remained difficult.

“Our domestic and international roll-outs are on track and we remain excited about the Group’s future prospects. We are nevertheless operating in a difficult retail market which reflects the macro economic environment,” he said in a statement.

Its fourth quarter trading update and full-year results had suggested sales growth had plateaued, sending its share price down almost 50 per cent from mid-May to mid-June.

Supergroup said its retail sales grew at a slower 51 per cent pace, to £34m, in the quarter, but said all its sales channels had seen growth and it was rolling out new standalone stores across the UK.

Two new stores opened in the quarter and it extended its Covent Garden store, while since July it has opened another two stores, taking its total to 64 with more due before Christmas.

Another ten wholesale stores also opened in the quarter,