Supergroup Interim Management Statement
Q3 Interim Management Statement
7 February 2013
SuperGroup Plc ("SuperGroup" or "the Group") today provides an Interim Management Statement covering the 13 week period to 27 January 2013.
A solid sales performance over the festive period and in January leaves the Group well placed to meet market expectations.
Total Group sales for the quarter have increased by 12.3% to £115.1m and in the 39 weeks to 27 January 2013 by 14.5% to £273.3m.
Gross margin has benefitted from the ongoing improvement in intake margins combined with a favourable channel mix in the quarter. Consequently it is anticipated that full year Group gross margin will be approximately 50 -75 basis points higher than last year.
A good Christmas trading period contributed to like-for-like sales for the quarter up 10.6%. There were notable performances from jackets, knitwear and gifting accessories. Total retail sales in the 13-week period were £89.8m, an increase of 14.4% on the comparable period last year and both the internet and the Group's standalone stores performed well.
Five standalone stores were opened during the quarter in Leeds, Inverness, Paris (France), Antwerp (Belgium) and Oberhausen. Oberhausen is the Group's first owned store to open in Germany and trading from around 5,000 square feet, represents the first European store on the UK's larger footprint model. The Group has opened 40,000 square feet in the year to date and, with a number of stores scheduled to open in the latter part of the fourth quarter, remains on track to deliver around 70,000 square feet for the full year.
Wholesale sales for the 13-week period were £25.3m, +5.4% on the prior year. The order book for Spring/Summer 2013 shows an uplift of around 20% on last year for the season as a whole on a constant currency basis.
The portfolio of franchised stores has increased by 15 during the quarter to 139, and comprising 11 stores opened in Europe and four in the rest of the world.
Julian Dunkerton, Chief Executive Officer, commented:
''The Retail division has produced a very satisfactory performance during the quarter and in particular over the Christmas period.
"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."
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