SuperGroup posts rise in sales, says confident of meeting expectations

Reuters

LONDON (Reuters) - SuperGroup, the British company behind the SuperDry fashion brand, lifted retail sales by 20 percent in the second quarter and said it was confident of meeting market expectations.

Retail sales for the 13 weeks to October 27 were 63.5 million pounds ($102.1 million) and wholesale sales rose by 16.7 percent on the comparable period last year to 53.1 million pounds ($85.38 million).

Retail sales for the for the first half of the year were 116.7 million pounds ($187.64 million), up 18.8 percent, and wholesale figures for that period were up 24.8 percent to 74.6 million pounds ($120 million).

"We have delivered another strong trading performance, which has seen good sales growth in both the retail and wholesale divisions," Chief Executive and co-founder Julian Dunkerton said on Thursday.

Dunkerton, who started his career in retail selling jeans on a market stall aged 19, added he was confident about meeting market expectations.

Investec analyst Kate Calvert said on the results: "Another fabulous quarter from SuperGroup, slightly ahead of our expectations, with good momentum in all areas confirming the continuing brand appeal."

Through its 173 stores, website, licences and concessions, SuperDry is sold in over 100 countries.

After rising by more than 230 percent within 11 months of its IPO in early 2010, shares in SuperGroup came back down to earth in mid 2012, but have risen by 116 percent since the start of the year.

They closed at 1,206 pence on Wednesday, valuing the company at 968 million pounds ($1.56 billion).

(Reporting By Joshua Franklin; Editing by David Cowell)

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