6th May 2015 06:29
LONDON (Alliance News) - SuperGroup PLC Wednesday reported growth in sales for the fourth quarter of its financial year and in the full year as a whole and said it expects its underlying profit for the year to meet previous guidance.
The retailer reported revenue for the 15 weeks to April 25 of GBP134.8 million, up from GBP113.8 million in the same period the year before, while revenue for the full financial year grew 12.5% to GBP484.7 million from GBP430.9 million.
SuperGroup said the strong performance within its retail division was sustained, following "clearance activity" in the third quarter, and benefited from softer comparatives.
Gross margin in the fourth quarter also is expected to have improved marginally, benefiting from a "continuing favourable channel mix, partially offset by the impact of currency movements".
Second half margins are anticipated to have declined slightly year-on-year as the group annualised the acquisition of European agents and as a result of promotional activity in the third quarter to clear excess seasonal inventory.
SuperGroup said it expects its full-year underlying profit to remain in line with previous guidance of between GBP60 million and GBP65 million.
"The group traded robustly throughout the final quarter. Our focus remains on the creation of a global lifestyle brand, through the extension of the Superdry brand and execution of clear retail growth opportunities, under-pinned by continued investment to strengthen our business," Chief Executive Euan Sutherland said in a statement.
"A strong pipeline of new stores in our targeted European markets, e-commerce momentum, the acquisition to take control of our brand in North America and the opportunity to increase awareness through our global collaboration with Idris Elba provide confidence for continued growth," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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