Friday, August 23, 2019

Supergroup stands out from crowd as sales jump 25%


Supergroup have announced a strong jump in group sales in the first quarter with demand for womenswear driving growth.

The group, which owns fashion label Superdry, said sales of its trademark t-shirts, hoodies and bags in Q1 increased by 25.7 per cent to £75m, while Total Retail sales in the same period were £53.2m – a like for like increase of 17.6 per cent.

Anusha Couttigane, Fashion Retail Consultant, commented: “Underscored by a bright colour palette and the iconic Japanese aesthetic, which sets it apart from competitors such as Abercrombie & Fitch, Superdry‘s seasonal performance indicates the importance of having a weather-appropriate proposition, particularly in the UK.”

New openings in Gatwick North and a relocation within the Silverburn shopping centre in Glasgow were attributed to the positive sales increase as the group added circa 21,000 sq ft to its portfolio.

Coutigane added: “This latter addition (at Gatwick) sees Superdry capitalising on the transnationlity of the brand, playing into the trend of upmarket labels with unique aesthetics positioning themselves at airports to take advantage of fashion tourism.”

Sales within the wholesale division saw the biggest increase of 50.8 per cent on last year, but the company maintained that a better indicator could be taken from the autumn/winter order book.

Julian Dunkerton, Chief Executive Officer, commented: “We have started the year in fine form and have continued to build momentum in both the Retail and Wholesale divisions. The spring/summer 2013 ranges have performed well across all channels with further progress made in womenswear.

“I am particularly pleased with the strong growth in the autumn/winter order book which demonstrates further evidence of the continued improvement in our ranges and the enduring appeal of our brand.”

The brand also increased its portfolio of franchised locations by 12 with stores opening across Europe and the Far-east.

Shares at Supergroup rose by 5.78 per cent following the news.