Supergroup takes off after flotation

Supergroup – the fashion retailer which counts David Beckham among the customers of its "Superdry" brand – saw total sales soar by 60 per cent to £33m in the first quarter, boosted by five new UK stores.

The company, which also owns the Cult chain, raised £395m when it floated on the Stock Exchange in March. Since then the stock has more than doubled from its original 500p, closing yesterday at 1,107p.

Julian Dunkerton, the Supergroup chief executive, remains bullish about the group's expansion plans despite concerns in the wider retail sector that public spending cuts will weigh on consumer confidence. "We have made significant progress in the period and demand for our product, both in the UK and abroad, continues to be strong," Mr Dunkerton said.

Supergroup's retail sales rose by 62 per cent to £22m in the first quarter. The company now has 47 standalone stores across the UK and another 45 franchises around the world.