Superdry owner increases revenue by 14% boosted by European store roll-out
During the 11-week period from 25 October 2015 to 9 January 2016, Supergroup increased retail revenues by 14.6% year-on-year to £143.5 million, reflecting the positive impact ofthe opening of new European stores. Supergroup, which is the owner of British womenswear and menswear label Superdry, opened 11 new stores in the period, of which four were in Germany.
Like-for-like sales were up 1.2%, against a 12.4% rise recorded in the same period in 2015.
Additionally, the retail group said total retail sales were £315.6 million in the first three quarters of the year, with like-for-like sales growth of 9.5%.
Euan Sutherland, CEO, said: "Having made further good progress through our peak trading period, our focus remains on delivering our strategic plan to create a global lifestyle brand. This encompasses the continued extension of the Superdry brand and the execution of clear global retail growth opportunities, underpinned by ongoing investment to strengthen the business."
Supergroup traded in line with its planned promotional strategy throughout the period, and confirmed its full year guidance.
During the nine-week period, Superdry opened its largest store on Continental Europe in Cologne, Germany, introduced a sportswear line for women, and launched a premium collaborative collection with Golden Globe-winning actor Idris Elba.
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