Superdry has best ever Christmas sales

Superdry fashion firm Supergroup has enjoyed its best ever Christmas trading after nearly doubling retail sales.

The group, which targets the youth fashion market and operates 59 stand-alone stores and 69 concessions, said UK retail sales surged 93.6 per cent to 51.7 million in the nine weeks to 2 January. It now expects full-year profits to be at the top-end of market expectations.

The firm also said rising cotton prices will not have an impact on this year's profit margins as previously expected, chief executive and founder Julian Dunkerton saying the company had renegotiated with suppliers.