Supergroup underlying profit before tax dipped £0.5m to £13m as like-for-likes grew 4% in its half year to October 30.
Profits were hit due to the young fashion chain’s warehouse issues which are estimated to shear £8.8m off full year profits. The retailer said the issues are now fully resolved.
Retail revenue soared 34% to £73.1m while its wholesale business rocketed 76% to £63m.
The retailer continued its expansion with 12 new stand-alone stores over the period bring its total to 72. It is on track to open 20 new stores by its year end in April.
It added 21 stores to its international, licensed, franchised and owned store portfolio bring its total to 101. It will have added 50 by April.
The bulk of its sales, 65%, came from international markets which have climbed 132% over the half year. The France and Benelux franchise and distribution partner Supergroup Europe BVBA, which the group acquired in February, contributed £22m in sales.
Supergroup chief executive Julian Dunkerton said: “While the economic outlook remains very uncertain, I am confident in our strategy and ability to improve many operational aspects of our company to achieve further efficiency and to maximise the opportunity we have in the UK and overseas.”
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