Superdry in-store sales rebound as online falls back

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Superdry has reported a surge in store sales last year following the lifting of Covid restrictions, which also led to a fall in online revenues.

Superdry store

Store sales have rebounded at Superdry

Store sales leaped 59.8% year on year to £224.5m as Superdry “lapped enforced closures”, the retailer said in a year-end trading statement. However, that was still 21.8% down on a two-year basis.

Ecommerce revenue slid 24% year on year to £153.4m, ”reflecting an element of channel shift back to physical trading” and a lower level of promotions. It was up 1.2% versus 2020.

Superdry’s full-price sales mix advanced by 26 percentage points year on year and is expected to lead to a 590bps improvement in retail gross margin.

Superdry chief executive Julian Dunkerton said: “We continue to execute our strategy of returning the Superdry brand to a premium position and I am excited by the progress we are making.

“Despite the ongoing tough trading conditions and turmoil in the market, our focus on full-price trading will deliver a strong gross margin improvement for FY22.

“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver product that stands for what is important to them: quality, style and sustainability at great value.

“As we head into FY23 we remain cautious on the macroeconomic outlook and the impact of inflation but are confident that our strategy is positioning the brand for future success.”