Youth fashion retailer Supergroup has today reported a 10.6 per cent rise in like-for-like sales over its third quarter, boosted by a “solid sales performance over the festive period”.
In the 13 weeks to January 27th 2013, total group sales increased 12.3 per cent to £115.1 million, while over 39 weeks to the same end period, this rose 14.5 per cent to £273.3 million.
Over the quarter, total retail sales grew 14.4 per cent to £89.8 million while the group‘s online business also reported a good performance.
In terms of physical stores, the retailer opened five standalone stores during the quarter in Leeds, Inverness, Paris, Antwerp and Oberhausen, the group‘s first German unit.
Ongoing improvement in intake margins along with a favourable channel mix has improved gross margin, the group explained and it is now expected that full year group gross margin will outperform last year by 50-75 basis points.
Such positive results are an impressive step for the retailer considering the transitional period it underwent at the end of last year after Supergroup Co-Founder Theo Karpathios left the business with immediate effect followed by the exit of two non-executive directors just three months later.
However, Supergroup CEO Julian Dunkerton said that the latest results and high interest in the forthcoming season‘s order book are positive indications of demand for the brand.
”The Retail division has produced a very satisfactory performance during the quarter and in particular over the Christmas period,” Dunkerton added.
“Although trading conditions remain volatile and unpredictable, the year to date results, and the early indications of the response to the new season range, have provided us with ever increasing confidence for the future.”