- Like-for-like increase of 1.2% in the 11-week period, down on 12.4% growth this time last year
- Retail revenues up 14.6% after expansion in Europe
- No change in margin guidance after retailer stuck to planned promotional schedule
Fashion retailer SuperGroup has reported a like-for-like increase of 1.2% in the 11 weeks to January 9.
The Superdry owner said that it traded in line with its planned promotional strategy throughout the period with a “series of sub-category promotions prior to Christmas followed by a focused clearance event, in store and online”.
As a result there is no change to guidance for full-year gross margin accretion of between 40bps and 60bps.
Retail revenues advanced 14.6%, driven by European expansion.
SuperGroup opened a net 11 stores in the period, including four in Germany.
SuperGroup chief executive Euan Sutherland said: “Having made further good progress through our peak trading period, our focus remains on delivering our strategic plan to create a global lifestyle brand.
“With a positive customer reaction to our latest product developments, a strong pipeline for new stores in our targeted European markets and established momentum in ecommerce, the board remains confident in delivering underlying profit before tax for the full year in line with analyst expectations and in the brand’s continued long-term growth.”