SuperGroup’s UK retail like-for-likes jumped 5.8% in the second quarter as the fashion retailer improved its operations infrastructure to deliver its ambitions.
In the 13-week period to October 28, retail sales surged 32.2% to £52.2m – the same period last year they dropped 3.3% because of complications caused by the retailer’s Warehouse Management System.
The cold weather drove sales later in the period, helped along by new autumn/winter ranges, delivering a half-year sales uplift of 26.5% to £92.4m and like-for-likes of 3.9%.
Total group sales soared 20.3% to £98.4m for the quarter and for the half-year Supergroup posted sales up by 16.2% to £158.2m.
But the retailer said that while it was “mindful of a competitive Christmas” it was on track to deliver profit in line with market expectations for the full year.
SuperGroup chief executive Julian Dunkerton said the results were “solid”. ”We recognise that economic conditions remain challenging but through our sales performance to date we can see that the Superdry brand remains in good health and is well positioned ahead of our peak trading,” said Dunkerton.
“While I am pleased with the progress that the new team is making there remains much to do. We are in the process of introducing a key number of systems and operational developments to ensure our infrastructure capabilities match the size of the business and our ambitions.”
On a constant currency basis wholesale sales for the quarter were up 14.4% to £48.4m, while the currency adjusted sales figure is £46.2m, an increase of 9.2%. European orders continued to show “significant growth” as UK wholesale orders continued to decline as expected.