LONDON (Alliance News) - SuperGroup PLC on Thursday reported growth in revenue in the Christmas period as it continued with expansion plans and store roll-outs in Europe.
The clothing retailer and owner of the Superdry brand, said retail revenue in the 11 weeks ended January 9 rose 15% year-on-year to GBP143.5 million from GBP125.2 million. In the 37 weeks to the same date, retail sales increased to GBP315.6 million from GBP256.8 million.
SuperGroup said revenue in the Christmas period was boosted by its European store roll-out programme. It opened 11 net new stores in the period, of which four were in Germany.
The retailer added that it traded in line with its planned promotional strategy, with a series of sub-category promotions prior to Christmas followed by a clearance event in store and online. SuperGroup therefore maintained its guidance for full-year gross margin of growth of between 40 and 60 basis points.
"With a positive customer reaction to our latest product developments, a strong pipeline for new stores in our targeted European markets and established momentum in e-commerce, the board remains confident in delivering underlying profit before tax for the full year in line with analyst expectations and in the brand's continued long-term growth," Chief Executive Euan Sutherland said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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