SuperGroup posts disappointing sales in FY'12

Financial results

Operational highlights

• 31.9% growth in revenue despite operational challenges.
• 26 new standalone stores opened in the UK and Europe, including one relocation, taking the total to 103 (2011: 78).
• UK like-for-like sales (including internet) +2% on the year.
• International expansion: 48 franchised and licensed stores opened during the year, with two closures, taking the total to 101 stores (2011: 55).
• Internet continues to grow strongly and now contributes 10% of Group revenue (2011: 8%).
• Management team strengthened by key, high calibre appointments.

Julian Dunkerton, Chief Executive Officer of SuperGroup Plc, commented:

"Whilst sales have continued to grow substantially, this has been a disappointing year for the Group. We have faced challenges brought about by the rapid growth of our business which have been compounded by the volatile and adverse market conditions being experienced by all fashion retailers. Profits have, therefore, fallen short of expectations.

We have now strengthened our management team and I am pleased with the impact these changes are having on our efforts to improve our operational capability. Despite the backdrop, the Superdry brand remains strong and I am encouraged by the potential for our 2013 ranges. We are now committed to growing the Group in a controlled and measured way."

SuperGroup Plc