SuperGroup Plc provides an Interim Management Statement covering the 13 week and 39 week period to 26 January 2014.
Total Group sales for the quarter have increased by 22.1% to £141.1m. For the 39 weeks to 26 January 2014 sales have increased by 21.7% to £333.2m. As a result of focusing on full-price trading during the quarter the margin gains achieved during the first half have been maintained, leaving the Group well placed to meet market expectations1 for the financial year.
Total retail sales in the 13-week period were up 18.2% at £113.8m. A cleaner stock position meant the Group did not need to repeat the eBay clearance activity of last Christmas which, whilst supressing top line sales this year, has helped to support margins.
Like-for-like sales for the quarter were up 1.3% but, adjusted for the impact of eBay, are up 4.9%. Year-to-date sales have grown by 18.7% to £230.7m and cumulative like-for-like growth is +4.7% or +7.0% adjusting for eBay.
Nine standalone stores4 were opened during the quarter, two stores were relocated and, following the acquisition of the German agency operation, seven stores have been transferred from franchised to owned stores.
The Group has opened 79,000 square feet in the year to date4 with a further 14,000 square feet trading from the acquired German stores. Total space growth year-on-year is circa 24%. With a number of stores scheduled to open in the fourth quarter, the Group is likely to deliver around 100,000 square feet of new space for the full year.
Wholesale sales for the 13-week period were £27.3m, +41.7% on the prior year. Year-to-date sales have increased by 29.0% to £102.4m. The significant growth during the quarter reflects a high proportion of spring/summer dispatches being made earlier than the comparable period last year. Underlying sales growth remains in line with the previously announced order book number of +26%.
During Q3 the Group opened 14 franchised stores, closed three, and as noted above transferred seven stores into the Retail estate. Stores have opened in the following territories: France (2), Hong Kong (2), Latvia, Malaysia (2), Philippines (2), Spain (2), South Korea and Thailand (2). Year-to-date the Group has opened 35 franchise stores, net of closures taking the total to 177.