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SuperGroup sales up 20% Tuesday, 11th September 2012
Photo credit: Superdry campaign
SuperGroup, parent company of Superdry, got off to a good start for its first quarter, with total sales up 20 per cent to £40.2 million.
Like-for-like sales rose by 1.7 per cent for the fashion group, with sales of all-weather clothing such as jackets and gilets faring well during a summer of storms and showers.
The results will come as some much needed good news for SuperGroup, who saw annual profits fall by 15 per cent in the last financial year, along with the departure of its chief executive of wholesale and international.
“This was a resilient performance in light of challenging conditions,”Matthew McEachran, analyst at Singer Capital, said, adding: "The shares have performed well over the summer after the disappointment of the last 12-18 months and the new management team appears to be getting to grips with the business and looks to be instilling improved practices across key areas.”
SuperGroup currently operates 81 UK stores, including two more locations in Sunderland and Windsor during the period.