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Sales increase 10% at SuperGroup for 13 week ended July 29
12
Sep '12
SuperGroup Plc provides an Interim Management Statement covering the 13 week period to 29 July 2012. Total Group sales for the quarter have increased by 10.0% to £59.7m.

Retail division

Total UK sales in the 13-week period were £40.2m, an increase of 19.7% on the comparable period last year, and like-for-like sales were up 1.7%.

UK revenues were resilient against a backdrop of unseasonal weather conditions and aggressive promotional activity on the high street.  Solid sales performances from jackets, gilets and sweatshirts demonstrated that the broad assortment carried by Superdry stores offers a degree of protection against the adverse weather.

Two standalone stores in Sunderland and Windsor were added during the quarter, taking the UK portfolio to 81.  In total, an extra 22,000 square feet of space has been added including the opening of the top floor of the Regent Street store.

Wholesale division

Wholesale sales for the 13-week period were £19.6m, down 5.6% on the year, reflecting differences in timing of stock despatches to UK and international partners compared to last year.

A more representative reflection of current performance is the order book for Autumn/Winter 2012, which shows an uplift of around 7% on last year for the season as a whole.  This metric provides a more accurate indicator of future wholesale revenues and will be disclosed in future trading updates.

Whilst orders from Europe and the rest of the world are still demonstrating significant growth, Wholesale sales in the UK, as previously guided, will continue to decline as more owned stores open.

Following the recent franchise deal in India, the Group is pleased to announce that it has recently completed a five-year deal with Azadea Group Holding SAL, a significant franchise operator across the Middle East and North Africa, to open stores across Lebanon, Egypt, Qatar and Bahrain.

The portfolio of franchised stores has increased by 13 during the quarter to 102; six stores were opened in Spain and one in each of Greece, France, Georgia, Saudi Arabia, Jordan, Venezuela and South Africa.

Julian Dunkerton, Chief Executive Officer, commented: ''The Retail division has produced a sound performance during the quarter against challenging comparatives and reflects the impact of improved retail practices. Whilst Wholesale revenues appear more challenging in the quarter, we are encouraged by the level of the order book for the full Autumn/Winter season.  Trading conditions remain volatile and unpredictable, but SuperGroup has produced a pleasing performance and while we recognise that it is early in the year we are on-course to meet our financial objectives."

SuperGroup is a distinctive branded UK fashion retailer offering quality clothing and accessories. It operates a multi-channel business through a combination of Cult and Superdry standalone stores, Superdry concessions, e-Commerce and its UK and International Wholesale operations.

SuperGroup Plc

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