Bumper sales for Superdry owner Supergroup

Fashion retailer Supergroup has announced more cracking results this morning with an 18.5 per cent increase in second quarter sales to £116.6m. This takes first half sales to £191.6m, a rise of 21.1 per cent from last year. The company said the boost was due to a strong trading performance, in line with managers' expectations. Shares are up on the news. (Release)

Like-for-like sales for the quarter were up 7.8 per cent, and 8.1 per cent for the half year.

In the UK, the company opened three new stores and acquired two that were third-party franchises, which were integrated into the owned store estate. In terms of retail space, it added 33,000 square feet - a year-on-year increase of 17 per cent.

The popularity of the company's Superdry brand was reinforced by e-commerce sales from Europe and the rest of the world overtaking those from the UK. Chief executive Julian Dunkerton said that "positive customer reaction" to new ranges ahead of peak trading means he's confident in the group's ability to meet market expectations.