Discount decision: Sales rise ‘justifies no price cuts’

The company behind the trendy Superdry fashion label yesterday said a sharp rise in festive sales vindicated its decision not to discount in the run up to Christmas.

SuperGroup, whose clothes are a favourite of celebrities such as David Beckham and Zac Efron, said sales rose 5.8 per cent at stores open for more than a year in the nine weeks to New Year’s Day.

That compares with a like-for-like decline of 3.3 per cent in the second quarter when trading was impacted by teething problems resulting from an IT system upgrade.

Chief executive Julian Dunkerton said the group had delivered “solid” sales against a challenging economic backdrop, its own distribution issues and “exceptionally” strong Christmas sales in the previous year.

The retailer, which runs 72 Cult and Superdry stores and 74 concessions in the UK, posted a 22 per cent rise in total sales over the nine-week period to £79 million.

SCOTT REID