UK: Supergroup posts 71% full-year sales increase
- FY sales up 71% to GBP238m
- Q4 sales up 61% to GBP66m
- More than doubles Internet sales
UK fashion retailer Supergroup has posted strong full-year sales growth on the back of continued international store openings.
Supergroup said it had increased market presence in both the UK and internationally during the year, and now has a retail presence in 22 countries.
The company said in a trading update it has opened 44 international stores in the past year, following the group's acquisition of Supergroup Europe in February, previously CNC Collections BVBA.
"Looking forward, Supergroup has a number of exciting developments internationally with further openings across Europe, Asia and the Middle East. Our strategy and prospects remain on track," the company said in a statement.
The company opened 21 UK standalone stores during the year, bringing its total to 60.
Supergroup added that it did not get its full range of summer stock out to UK stores quickly enough in view of the unseasonably warm weather experienced in early Spring, but that this issue has been addressed.
Julian Dunkerton, chief executive officer, said: "We have had an excellent year both financially and in terms of our development, particularly overseas where we opened 44 stores and SuperGroup now has a strong platform for an accelerated roll out.
"We have a strategy that will continue to deliver sustained growth both in the UK and overseas."
Supergroup's Internet operation, which has introduced foreign language sites, reported a 180% sales increased in the fourth quarter.
The company, owner of the Superdry youth clothing brand, said that wholesale revenues increased 7.1% to GBP91m (US$148m), while retail sales were up 71% to GBP147m.
For the three months to 1 May 2011, Supergroup saw its wholesale sales increase 89% to GBP34m, while retail sales increased 39% to GBP32m.
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