SuperGroup, the owner of Superdry, has revealed growing profits backed up by a widening range and a stronger infrastructure.
During the 26 week period ending 24 October, the company‘s group revenue reached £254.7m, an increase of 22.3%. Retail sales were up 17.2% compared to the same period last year and, as has been the pattern across the retail industry, the participation of online sales at the company rose, reaching 19.2% of total profits.
Notably, Superdry has opted to combine its store and ecommerce stock into a single “inventory file” to improve ecommerce availability. It is unknown how this may affect stores, as more popular items may disappear quickly, but it fits in well with the growing demands of the ecommerce market and the growth of the electronic customer base.
Superdry also worked to expand its womenswear selection during the interim. The store launched its Idris Elba collection, and introduced new categories to its Superdry Sport collection, including women‘s rugby.
“SuperGroup has made good progress in realising its strategic objectives in the first half and has delivered profitable growth, while continuing to invest in the business,” said Euan Sutherland, Chief Executive Officer at SuperGroup. “Central to this is the ongoing process to get ever closer to our customers who clearly appreciate the product innovation that is widening the Superdry offer.”
The period saw the opening of 23 international franchised and licensed stores, taking the Superdry estate to a total of 244 stores.
“With a successful first half completed, the business is well placed for the significant peak trading period,” Sutherland continued. “Whilst comparatives in the second half are more challenging, the development of Superdry into a global lifestyle brand is proceeding with pace and this, together with the strength of our product offer and increasing efficiency, will enable us to deliver long-term sustainable growth.”