Like-for-like sales at SuperGroup were flat in a fourth quarter chief executive Julian Dunkerton described as “disappointing”.
Retail sales at the fashion retailer in the 13-weeks to April 29 soared 24.7% to £39.4m however, aided by new store openings.
Like-for-likes were held back by the challenging retail environment which has led to a slowdown in sales from standalone stores and concessions, the retailer said.
Sales for the year to April 29 grew 29.6% to £191m. Sales in its wholesale division grew 4.4% to £35.8m in the fourth quarter while sales grew 35.7% in the year to £122.8m.
SuperGroup gave no further guidance following the shock profit warning it issued after an “arithmetic error” on April 20. The error destroyed its stock market value.
Dunkerton said: ”Although the fourth quarter has been a disappointing end to a challenging year, the brand remains strong and this, together with the group’s investments in key senior personnel and system infrastructure, provides a solid platform for the coming financial year.”
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