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May 13, 2022

Superdry FY sales jump on post-pandemic flock to stores

Superdry has booked an 8% jump in full year sales compared with the same period last year, driven by a return to physical trading and on reduced promotions.

By Hannah Abdulla

For the 52 weeks ending 23 April, Superdry recorded group sales of GBP600.7m (US$732.9m).

However, Superdry noted sales were down 14% when compared to the pre-pandemic 2019/20 financial year.

Store revenues were up 59.8% year on year to GBP224.5m but down on a two-year comp. Its e-commerce arm saw sales slide 24% to GBP153.4m which it attributed to the reopening of physical retail and a reduction on promotional activity.

Julian Dunkerton, chief executive officer, said: “We continue to execute our strategy of returning the Superdry brand to a premium position and I am excited by the progress we are making. Despite the ongoing tough trading conditions and turmoil in the market, our focus on full-price trading will deliver a strong gross margin improvement for FY22.

“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver product that stands for what is important to them: quality, style and sustainability at great value.

“As we head into FY23 we remain cautious on the macroeconomic outlook and the impact of inflation but are confident that our strategy is positioning the brand for future success.”

At the end of last year, Superdry teamed with advanced engineering materials group Versarien to utilise graphene’s thermal and moisture management properties in its garments.

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