SuperGroup’s policy not to run Sales helped revenue soar during the prolonged summer period, according to chief executive Julian Dunkerton.
The retailer, which only discounts through designated outlet stores and eBay, delivered an 8.5% like-for-like sales jump over the 13 weeks to July 28.
Dunkerton said: “Our no Sale policy allows us to be more responsive to the weather. We have the ability the sell [full price] shorts throughout the summer.”
Some retailers have already started marking down autumn ranges that have suffered as the sun continues to shine, according the BRC-KPMG Retail Sales Monitor for August. However, demand for last season’s summer products, which is now in Sale, remains strong, according to the monitor.
Dunkerton put the retailer’s sales surge down to “better product and better management”.
Shareholder group PIRC has advised its members to reject the retailer’s remuneration report at the annual general meeting next week as it believes Supergroup’s long-term incentive plan are not “sufficiently challenging”.
Dunkerton responded: “If you look at our business growth, our sales growth, our better performance and our share price growth, we haven’t done the wrong thing. We’re rewarding brilliant performance.”
Total retail sales increased 17.6% to £53.2m in the period while the fashion retailer’s group sales soared 25.7% to £75m.