Fashion retailer SuperGroup’s like-for-like sales rose 1.7% in the first quarter and it the retailer it is on track to achieve its financial targets.
At the retail division, UK sales surged 19.7% in the 13 weeks to July 29, while total group sales increased 10% to £59.7m.
SuperGroup said that despite unseasonal weather and “aggressive” price cutting on the high street, customers continued to buy jackets, gilets and sweatshirts.
The retailer opened two stores in Sunderland and Windsor in the period, taking the store estate to 81. SuperGroup also opened the top floor of its Regent Street store, adding an additional 22,000 sq ft of retail space in total.
Internationally, SuperGroup opened stores in Spain, Greece, France, Georgia, Saudi Arabia, Jordan, Venezuela and South Africa. It now has 102 international stores.
SuperGroup plans to open stores in Lebanon, Egypt, Qater and Bahrain, after signing a five-year deal with franchisee Azadea Group.
SuperGroup chief executive Julian Dunkerton said: ”The retail division has produced a sound performance during the quarter against challenging comparatives and reflects the impact of improved retail practices.
“Trading conditions remain volatile and unpredictable, but SuperGroup has produced a pleasing performance and while we recognise that it is early in the year we are on course to meet our financial objectives.”
Dunkerton said conditions at the wholesale division were more “challenging” but it was “encouraged” by the order book for the autumn/winter season, which is 7% up on last year.
In the first quarter, sales at the wholesale division fell 5.6% to £19.6m because to differences in the stock despatch schedule to UK and international partners compared to last year.
Orders from Europe and the rest of the world continuing to grow “significantly”, the retailer reported.