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SuperGroup annual revenues up 21% as retailer 'traded robustly' in final quarter

Published 12/05/2016

Chief executive Euan Sutherland said the group has 'traded robustly throughout the final quarter'
Chief executive Euan Sutherland said the group has 'traded robustly throughout the final quarter'

SuperGroup, the company behind the Superdry fashion brand, has said revenues rose 21% to £589.5 million over the year.

Annual like-for-like sales at the retailer grew 11.3% and the company said it expects underlying pre-tax profit for the year to come in at between £72.5 million and £74 million.

Chief executive Euan Sutherland said: "The group has traded robustly throughout the final quarter as we continue to deliver our strategy to create a global lifestyle brand.

"We have opened 24 net new stores across our targeted European markets and have a strong pipeline of new stores for the new financial year."

SuperGroup currently has a presence in 51 countries and operates 662 stores and concessions globally.

Trading in the final quarter was particularly strong, with like-for-like sales up 15.4%.

The company said it plans to open two distribution centres during 2016 to better serve customers in Europe and North America.

SuperGroup also announced that James Holder, one of the founders of the business and currently brand and design director, is to resign from his current role and split his time between running a "Superdesign Lab" for the retailer and his personal interests.

Freddie George, analyst at Cantor Fitzgerald, said: "These figures were significantly better than our forecasts considering that April has been a poor trading month for the retail sector and confirm that the company is very much in a growth phase."

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