Supergroup continues sales growth
Supergroup, the British company behind the Superdry fashion brand, posted another strong sales rise in its fourth quarter and reiterated guidance on full-year profit.
The company, whose trademark jackets, hooded tops, check shirts and jogging bottoms are popular with teenagers and twentysomethings, said on Wednesday that like-for-like sales in the 15 weeks to April 25 rose 11.6 percent.
The rise represented Supergroup's second consecutive double-digit increase after growth of 12.4 percent in its Christmas third quarter, which followed a first-half decline after warm autumn weather hit demand for winter clothing.
"With a successful final quarter completed, the group's expected underlying profit outcome remains in line with previous guidance at between 60 million pounds ($91.3 million) and 65 million pounds," Chief Executive Euan Sutherland said.
Supergroup shares rose 6.3 percent to 10.60 pounds in early trading.
The company, which posted a profit of 62 million pounds in 2013/14, has a focus on online and international expansion to support growth and said on Wednesday that it has a strong pipeline of new stores in European markets.
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