Superdry and Cult owner Supergroup has today reported strong trading figures for the recent Christmas period, with like-for-like (LFL) retail sales up 5.8 per cent year-on-year for the nine weeks to January 1st 2012.
Benefiting from better weather than the previous year and a general increase in fashion sales during the 2011 festive season – the British Retail Consortium noted yesterday that clothing & footwear was a strong performer last month – the firm’s LFLs increased by 9.3 per cent in December alone.
Total group trading jumped 22 per cent over the period to £79 million, with retail sales growing 28 per cent to £66 million, aided by a number of new stores including one in London’s Regent Street.
Supergroup’s end-of-year success comes despite a recent glitch which occurred during the implementation of a new warehouse management system. The business has estimated wiped off £4 million in profits during its first-half of trading.
Julian Dunkerton, CEO of Supergroup, commented: “We are pleased to report a solid Christmas period when set against the difficult economic climate, our own distribution issues in the autumn and our exceptionally strong Christmas sales last year.
“Overall, our retail business has seen an improving sales trend as our stores became better stocked following the resolution of our warehouse issues and the continued demand for our products and brand.”
The group plans to open seven more new stores before the end of its financial year in April.