Interim Management Statement: Third Quarter and Nine Months Trading Update
SuperGroup Plc ('SuperGroup' or 'the Group'), owner of the Superdry brand and one of the fastest growing international retailers and wholesalers of youth clothing, today provides a quarterly trading statement for the three months to 30 January, 2011, demonstrating strong trading momentum following the last update in January.
· Total Group sales up 86.9 % to £81.7 million (2010: £43.7 million);
· Retail sales up 91.8 % to £61.4 million (2010: £32.0 million), driven by the successful Christmas trading period in the UK;
· Wholesale sales up 73.3 % to £20.3 million (2010: £11.7 million), due to the ongoing international expansion of Superdry.
This brings the Group's sales for the first nine months of the year, ending on the same date, to:
· Total Group sales up 74.7 % to £172.0 million (2010: £98.4 million);
· Retail sales up 81.7 % to £115.8 million (2010: £63.7 million), driven by the ongoing successful retail roll-out in the UK and the growth in the internet business;
· Wholesale sales up 61.9 % to £56.2 million (2010: £34.7 million).
SuperGroup's UK roll-out continues apace with six new stores opening during the quarter at key locations including London's Westfield Centre, the Trafford Centre in Manchester and an 18,000 sq ft re-site at the St Enoch Centre in Glasgow. The Group now trades from 59 UK standalone stores and further stores are planned. During the same period a prestigious new concession was opened at Harrods.
The Wholesale division opened a further 15 franchise stores in the same period, including five in Australia, two in France and Benelux with others in the USA, South Korea and Venezuela bringing the total to 69. Included within the new store openings is the first Italian franchise store in Riccione, North East Italy. Further stores in Holland, France, Italy, Switzerland, the US, Middle East and Far East are due to open before the end of April 2011.
The recent acquisition of the France and Benelux franchise and distribution partner, CNC Collections BVBA, will allow the Group to further accelerate the European franchise roll-out. This will capture greater margins on growing sales within those territories and make possible the creation of owned larger format stores in key locations across Europe.
Julian Dunkerton, Chief Executive Officer, commented:
'Such strong results combined with our continued UK roll-out, further expansion across Europe and additional store openings in the Far East, US, Australia and the UAE demonstrate the continued global potential of our brand. Our acquisition of CNC provides an exciting opportunity to further accelerate our European expansion over the coming years.'
SuperGroup Plc intends to issue a trading update in mid-May.
9 February 2011
For further information:
Matthew Barnett Tel: 44 (0) 1242 588187
Matthew Smallwood Tel: 44 (0) 20 7457 2020
Nicola Marrin (Corporate Finance) Tel: 44 (0) 20 7107 8000