Retail news round-up: SuperGroup reports boost in profits; Apple records drop in profit amid rise in revenues; and H&M's sales and profits increase.
SuperGroup reports surge in profits
Superdry owner SuperGroup has reported a 51.1% increase in its pre-tax profits to £84.8m, Sky News reported.
Revenue at the fashion group rose 27.4% to £752m, following a 12.7% increase in like-for-like sales.
The group released its annual results a week early following "a random theft from an employee".
Apple records drop in profit amid rise in revenues
Apple has recorded a 2% rise in revenues in the UK to £1.024bn, but reported a 33% drop in operating profit to £19.2m from its 39 stores, The Times reported.
The company’s tax bill from its stores decreased to £8m despite a record turnover of more than £1bn.
The drop in profits was owing to a rise in staff costs, totalling £125.5m in 2016.
H&M’s sales and profit increase
H&M has reported a 10% increase in sales between March and end of May, The Times reported.
The group’s profit increased to 7.7bn Swedish kroner during the same period.
The retailer said the rise in profit was “mostly explained by continued expansion and tight cost control”.