5th Sep 2013 06:51
LONDON (Alliance News) - Supergroup PLC Thursday reported a jump in first-quarter sales, due to a strong performance from both its retail and wholesale divisions, as well as the opening of more franchise stores.
The retailer of Superdry clothing said that group sales in the 13 weeks to July 28 rose 25% to GBP75.0 million, compared with GBP59.8 million in the same period a year earlier.
The company said its retail division reported revenues of GBP53.2 million in the first quarter, an increase of 17% when compared with GBP45.3 million a year earlier.
It said its own stores and online channel performed well during the period, with like-for-like sales up 8.5%.
Supergroup also said that it opened a new store in Gatwick North and another larger store inside the Silverburn shopping centre in Glasgow. It said that since the end of the first quarter, it has added a further four UK stores.
The company said its doubled its first quarter revenue from its wholesale divisions to GBP21.8 million, although its said that reported revenues on a quarter-by-quarter basis can be influenced by the timing of its dispatches. It said that its seen strong growth in its autumn/winter 2013 order book, which is up 26% on last year.
Supergroup also said that it has added a further net 12 stores during the quarter to its franchised locations portfolio, now totalling 154 stores. It opened new franchise stores in France, Italy, Spain, India, Austria, Monaco, The Philippines, Thailand and Taiwan.
"We have started the year in fine form and have continued to build momentum in both the Retail and Wholesale divisions. The spring/summer 2013 ranges have performed well across all channels with further progress made in womenswear. I am particularly pleased with the strong growth in the autumn/winter order book which demonstrates further evidence of the continued improvement in our ranges and the enduring appeal of our brand," said Cheif Executive Officer Julian Dunkerton in a statement.
The company said its trading in line with management expectations. Supergroup will hold its annual general meeting September 10. It said it will release a second-quarter trading update on November 7, with its half-year results following on December 12.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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