×
203
Fashion Jobs
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Category Manager/sr. Manager-Institutional Sales - Garments Industry
Permanent · Bhiwandi
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, Batch & bi – Tech Ops
Permanent · Bengaluru
Published
Nov 8, 2018
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Superdry trading gets near to normal as colder weather sets in

Published
Nov 8, 2018

Superdry may be under pressure at the moment from its unhappy co-founder, and it may have had a tough time in the summer, but its trading update on Thursday painted a picture of a company in reasonably good health.


Superdry



After its profit warning earlier in October, it seems that global brand revenue excluding China in the 26 weeks to October 27 rose 6.4% to £831.8m, which met its guidance and managed to beat many of its retail peers “against a challenging backdrop”.

Group revenue rose 3.1% to £414.6m but retail store revenue was down 2.3% to £177.4m. Wholesale rose 7.8% to £171.8m and e-commerce was up 6.9% to £65.4m. Its average retail space rose 9.4% so it looks as though like-for-like sales were negative.

One particular challenge was the very hot summer that wreaked havoc at a company known for its cold weather outerwear. But that doesn’t seem to have held it back as much as had been feared for the half as a whole as that 6.4% rise shows. And its e-tail sales were particularly strong. In fact, overall e-tail sales rose 6.9% while its own webstore saw growth of 14%.

Digital also became more important for its wholesale ops during the half and it said its enhanced wholesale B2B digital platform means global wholesale partners can now place both forward and in-season orders online.

And as the company ramps up its international operations, it said that China and the US also performed well in the half. In China, it boosted franchise store numbers and it said that in the US, "our strategy of capital-light growth continues to be successful, with full price US Wholesale revenues growing by 39% in the period.” 

Superdry also said that the cooler weather that has now set in means sales have been more “typical“ for the time of year.

“The company's full-year profits are heavily influenced by its performance in the second half, led by cold weather products with jackets and sweats accounting for 55%-60% of autumn winter sales,” it explained. 

CEO Euan Sutherland added that the firm has “made significant progress in the first half. We are six months into a product diversification and innovation programme and, as we said in the summer, it will take up to 18 months for the benefits to come through. In the meantime we are well prepared for peak trading and the team remains highly focused on the delivery of sales growth and further efficiencies in the remainder of the year.”

But analysts weren't as upbeat. Emily Salter at Globaldata said: "Although the UK heatwave and House of Fraser [had earlier been] blamed for the retailer’s comparatively poor performance, its growth has been slowing year-on-year signalling a longer term issue beyond these factors.

"The retailer’s prices are at the higher end of the mid-market which may alienate many potential customers, especially as many trend-led clothing retailers now sell athleisure and sports clothing at lower prices, including H&M, ASOS and Topshop. Given the increased competition, Superdry is less able to capitalise on the health and fitness trend and sales are slowing as a result."

Copyright © 2022 FashionNetwork.com All rights reserved.