Superdry in a German drive as it shrugs off the freeze
The group behind the Superdry clothing brand has shrugged off the wintry weather to post buoyant sales, as it revealed plans to roll out more stores in Europe’s biggest economy, Germany.
SuperGroup also said its store on Regent Street, opened last year, was growing sales, in its first comments on trading there.
UK underlying sales jumped by 5 per cent over the quarter to April 28, despite the cold recent weather hitting high streets. SuperGroup chief executive Julian Dunkerton said: “Against the backdrop of less people out shopping it is a brilliant performance.”
The UK fillip and a 20.2 per cent leap in wholesale revenue overseas in its final quarter means SuperGroup expects to hit City forecasts for full-year profits of £51.2 million.
The first company-owned Superdry store opened in Germany’s Oberhausen in November and Dunkerton said its performance had “given us the confidence to roll out more stores in Germany”, in addition to a few franchise shops. Total SuperGroup sales rose by 15.3 per cent to £86.8 million over the quarter. Its shares, floated at 500p in March 2010, slipped by 6.6p to 713.4p.
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