UK: SuperGroup “on track” after Q2 sales surge
- Q2 group sales up 20.3% to GBP98.4m
- UK retail sales up 32.2% to GBP52.2m
- Wholesale revenues up 14.4% to GBP48.4m
Fashion business SuperGroup said it was on track to deliver profits in line with market expectations after sales surged by 20.3% in the second quarter.
Like-for-like sales in the UK in the three months to 28 October rose 5.8%, assisted by the cold weather, particularly in the latter part of the quarter, and the impact of lead brand Superdry’s new autumn/winter ranges.
The company said wholesale orders from Europe and the rest of the world had continued to show significant growth, offset by an expected decline in UK demand.
Describing the results as “solid”, CEO Julian Dunkerton said: “We recognise that economic conditions remain challenging, but through our sales performance to date we can see that the Superdry brand remains in good health and is well-positioned ahead of our peak trading.”
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