Jan 5, 2010
UK retailer SuperGroup's sales surge, mulling IPO
Jan 5, 2010
LONDON, Jan 5 (Reuters) - SuperGroup, the British fashion group considering a stock market flotation this year, reported a 29 percent rise in like-for-like sales for the five weeks to Jan. 3, adding to signs of a strong Christmas for retailers.
The firm behind the Superdry brand and Cult chain of retail outlets said on Tuesday 5 January group sales over the 12 months to Jan. 3 almost doubled to 119 million pounds ($192 million), boosted by new store openings.
SuperGroup opened 17 shops in Britain and Ireland over the past year, bringing its total to 39. It also has 54 concessions in House of Fraser department stores, as well as operations in Belgium, France, Scandinavia, the United States and Australia.
The Sunday Times said in November SuperGroup was looking at a flotation that would value it at about 400 million pounds ($644 million).
The company, which has appointed Seymour Pierce to advise on the possible listing, declined to comment on its potential valuation.
Earlier on Tuesday 5 January, fashion chain Next (NXT.L), department stores group John Lewis [JLP.UL] and online and home shopping firm Shop Direct all reported strong Christmas sales, although they were cautious about prospects for 2010 amid fears that taxes will have to rise to cut government debt.
(Reporting by Mark Potter; editing by John Stonestreet)
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