Superdry revealed bumper Christmas sales and a jump in half-year profits as its “disruptive” multichannel approach starts to pay off.
In the 10 weeks to January 6, group sales reached £215.6m — a 12.6% year-on-year increase. On a like-for-like basis, sales rose 4.7%.
Online revenues surged 30.5%, while bricks and mortar sales grew 3.1% following a store expansion programme.
The fashion retail group, which changed its name earlier this week from Supergroup to Superdry, said the festive performance reflects the continued shift online that is “at the heart” of its strategy.
Superdry said underlying pre-tax profit jumped 20.5% to £25.3m in the half year to October 28, attributing the performance to its “disruptive multi-channel approach”.
On a reported basis, however, pre-tax profit declined 28% to £9.1m, following “fair value movement” on forward exchange contracts.
Group sales, including revenues from its wholesale division, rose 20% to £402m, while retail sales rose 12.8% to £242.7m.
Like-for-like retail sales increased 6.3% and online sales jumped 31.6%.
During the half-year Superdry opened 50 new stores, taking its portfolio to more than 600 and undertook what it described as “relentless innovation”.
It also launched its first standalone Superdry Sport store in Cape Town.
Boss Euan Sutherland said: “Superdry has further strengthened its position as a global digital brand obsessed with quality and design.
”Our growth through our eight channels to market has further diversified the brand, both geographically and across channels, while continued innovation has further widened our product offer.
”Our focus is on executing against the growth opportunities we have identified. We have a clear brand positioning, an innovative approach to digital marketing, a disruptive multichannel approach and a growing culture of operational excellence.”
He added that the board remains confident in delivering full-year profits in line with analyst expectations.