SuperGroup, the fashion retailer that owns the Superdry and Cult chains, is on the expansion trail following a strong set of annual results since becoming a quoted company.
The retailer intends to open around 20 stores a year in the UK and to launch new stores overseas.
Overseas, it has 39 franchise stores in 14 countries, 14 of which have opened since it joined the stock exchange on March 24. Having floated at 500p the shares this week hit a high of 1027p.
SuperGroup expects growth in its ecommerce operations to accelerate following the launch of a new website offering multi-language and multi-currency options across a number of European territories.
Following the retailer’s launch of a new site during the financial year, ecommerce accounted for 4.4% of total sales. Last month it appointed Chris Griffin as head of ecommerce, a new role to spur online growth.
SuperGroup plans to boost its womenswear offer with a further 10 womenswear concessions before Christmas 2010 and to expand its womenswear range, which represented 34.4% of total retail sales.
SuperGroup chief executive Julian Dunkerton said that new store openings, changes to online operations and new international franchise agreements point to “continued success” for next year.
Singer analyst Mark Photiades said he is optimistic SuperGroup’s strong growth will continue.
“A key route [for growth] is to continue to roll out standalone stores, which will mean brand awareness will grow,” he said. “It has got big opportunities in new territories and online. There are a lot of opportunities ahead for the business.”
Results: Year to May 2
- Group revenue up 83.1% to £139.4m
- Profit before tax up £14.9m to £22.5m
- Ecommerce accounted for 4.4% of total revenues, with deliveries to 70 countries
- Wholesale revenue up 94.4% to £53m
- Retail revenue up 76.8% to £86.4m