The parent company of fashion retailer Superdry has revealed skyrocketing sales amid its full year results as its retail and wholesale operations cash in on the weak pound.
SuperGroup recorded a 27.7 per cent rise in revenues to £750.6 million in the 12 months to April 29, with revenues from the weakened sterling accounting for roughly a third of its overall reported growth.
Retail revenues increased by 20.6 per cent to £501.6 million over the period and like-for-like sales climbed 12.7 per cent.
Meanwhile, its wholesale operation charged ahead with a 42.9 per cent rise in revenues to £248.9 million.
“We remain focused on the consistent execution of the strategy outlined in early 2015,” chief executive Euan Sutherland said.
“This global multichannel growth strategy balances opening stores, developing new wholesale partners and driving our strong ecommerce proposition to expand the reach of the brand and further diversify our business model.”
SuperGroup finished the financial year with 555 stores internationally compared with 475 last year, trading across the UK, China, the US and Europe.
“[It] has seen another good year of sales and profit growth,” Sutherland said.
“This has been achieved by improving our product ranges and introducing new categories to excite, inspire and maintain the brand‘s relevance while, in parallel, investing in our development markets and improving our infrastructure.
“With a clear strategy and a number of long term opportunities to establish Superdry as a global lifestyle brand we remain confident in the continued delivery of sustainable revenue and profit growth.”
The SuperGroup board expects full-year profits to come in in line with forecasts at between £86 million and £87 million.