SuperGroup Climbs 9% on Strong Seasonal Sales
LONDON -- Shares in SuperGroup have soared 8.1% this morning to 51.5 pence on news of a successful Christmas trading period.
Third-quarter results saw total group sales lift 12.3% to 115.1 million pounds, and in the 39 weeks to Jan. 27, revenue is up 14.5% to 273.3 million pounds. Full-year group gross margin is expected to be approximately 50 to 75 basis points higher than last year's.
Q3 like-for-like retail sales increased 10.6%, with strong performances from jackets, knitwear, and gifting accessories -- no surprise, if you take a look at Britain's high streets these winter months and see the abundance of Superdry coats being worn! Total retail sales in the 13-week period were 89.8 million pounds, up 14.4% on the same period last year.
SuperGroup's wholesale division saw a 5.4% increase in third-quarter sales to 25.3 million pounds, while the order book for spring/summer 2013 shows an uplift of about 20% on last year on a constant-currency basis. CEO Julian Dunkerton said:
We are pleased by the response of the Group's franchise partners to the Spring/Summer range. The level of the order book for the forthcoming season and the retail performance during the quarter are positive indications of the demand for Superdry product.
Although trading conditions remain volatile and unpredictable, the year to date results, and the early indications of the response to the new season range, have provided us with ever increasing confidence for the future.
SuperGroup initially floated at 5 pounds and reached a high of about 18 pounds before crashing to a low of about 250 pence. Now having recovered to about 690 pence, the fashion retailer is one of the most well-known growth shares in recent years.
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