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SuperGroup chain sees sales growth defy gloom

FASHION chain SuperGroup yesterday shrugged off the freezing start to the year as a revamp of womenswear helped deliver what it called “solid” sales growth.
By PETER RANSCOMBE
Published 10th May 2013, 01:00 BST
Superdry spring/summer 2013 collection. Picture: ComplimentarySuperdry spring/summer 2013 collection. Picture: Complimentary
Superdry spring/summer 2013 collection. Picture: Complimentary

The chain – which owns the Cult, Superdry and SurfCo California brands – said that like-for-like sales grew 5 per cent in the 13 weeks to 30 April, its fourth quarter.

While that was down on the 10.6 per cent underlying growth posted during its third quarter and the 6.9 per cent expansion for the year as a whole, SuperGroup said it remains on track to deliver pre-tax profits in line with City expectations. Analysts’ consensus prediction is for profits of £51.2 million for the year to 30 April.

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Chief executive Julian Dunkerton said: “I am pleased the fourth quarter has seen a good trading performance against the backdrop of a challenging market given the extended period of cold weather in early spring.”

SuperGroup, which floated in 2010, is popular with celebrities including David Beckham, Pippa Middleton and Ed Sheeran.