Supergroup recovers from IT glitch but sales growth slows

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The Independent Online

Supergroup has said the warehouse fiasco that hit the replenishment of stock in stores in the early autumn has now been largely "rectified".

But the owner of the trendy Superdry brand admitted the IT glitch – which led to a profit warning in October – had resulted in substantially lower sales in its second quarter.

Julian Dunkerton, the chief executive of Supergroup, said: "While this has been a demanding period for Supergroup logistically, we are well on the road to rectifying the situation and have learnt valuable lessons in the process."

Total sales at the fashion group rose by 42 per cent to £82m over the three months to 30 October, but this was down on growth of 66 per cent in the previous quarter.

Supergroup said the retail sales at its UK stores were "clearly affected by the disruption" at its distribution centre and rose by a lower 23 per cent in the latest period.

Its wholesale division, which is benefiting from rapid expansion overseas, grew sales by 67 per cent to £42m.

Shares in Supergroup – which floated at 500p in March 2010 – fell by 23.3p, or 3.2 per cent, to 711p.