Supergroup full-year sales jump bolstered by weak pound

The fashion retailer’s group revenues for the 52 weeks to April 29 rocketed 27.2% year-on-year, driven by a 12.7% increase in like-for-like retail sales during the same period.

The retailer also reported a 9.4% and 12.5% jump in like-for-like sales in the fourth quarter and second half respectively.

However, the retailer said its international operations had benefited “from sterling’s weakness” and that “the impact of currency changes continued to account for approximately one-third of the reported growth in each of the group’s sales channels.”

Strong growth

Superdry, which posted a leap in sales and profits at the half-year mark in January, reported full-year online sales growth of 35% while wholesale sales shot up 42.9%.

As a result of its strong wholesale channel growth and “the adverse impact of foreign exchange”, the fashion retailer flagged that its gross margin levels were expected to decline on a full year basis in the range of 120 bps to 140 bps.

Superdry opened 6 standalone stores and 20 franchised outlets during the period, taking its overall store estate to 555.

The retailer said its underlying full-year profits would be in line with market expectation.

New product and categories

Chief executive Euan Sutherland said: “[This financial year] has seen another good year of sales and profit growth.

“This has been achieved by improving our product ranges and introducing new categories to excite, inspire and maintain the brand’s relevance while, in parallel, investing in our development markets and improving our infrastructure.

“With a clear strategy and a number of long-term opportunities to establish Superdry as a global lifestyle brand, we remain confident in the continued delivery of sustainable revenue and profit growth.”