12th May 2016 06:55
LONDON (Alliance News) - Fashion retailer SuperGroup PLC on Thursday posted growth in total and like-for-like revenue for the financial year to April 23, with a particularly strong performance in the fourth quarter, as one of its founders stepped down to lead a design consultancy.
The FTSE 250-listed owner of the Superdry brand said total group revenue for the year to April 23 was GBP589.5 million, up 21% year-on-year from GBP486.6 million. Total retail revenue grew 25% over the year to GBP416.1 million from GBP334.1 million.
Like-for-like sales growth, meanwhile, hit 11.3%, well ahead of the 4.8% like-for-like growth posted for the prior financial year. Like-for-like sales growth in the fourth quarter was even stronger, at 15%.
SuperGroup said sales had been boosted by continued growth in e-commerce sales and initial benefits from its new sportswear and premium product ranges.
The company said it expects margin growth for the year to be at the top end of its expectation for 40-60 basis point accretion.
"The group has traded robustly throughout the final quarter, as we continue to deliver our strategy to create a global lifestyle brand," said Chief Executive Euan Sutherland.
"During the quarter the group paid its first dividend in line with our progressive dividend policy whilst retaining sufficient capital to support our investment programme. Our focus remains on the extension of the Superdry brand and execution of clear growth opportunities, under-pinned by continued investment in infrastructure to strengthen our business," he added.
In a separate statement, SuperGroup said that James Holder, a founder of the business and currently its brand and design director, will now lead the SuperDesign Lab consultancy as a "design hot house" to drive product innovation exclusively for SuperGroup. As a result of this, Holder will step down as a director and employee of SuperGroup.
Holder will step down from June 1, after which the heads of design for the menswear and womenswear divisions will report directly to CEO Sutherland.
By Sam Unsted; [email protected]; @SamUAtAlliance
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