SuperGroup proving weatherwise

Superdry owner SuperGroup reported resilient UK sales in the face of unseasonal weather conditions and aggressive promotions on the high street.
By The Newsroom
Published 12th Sep 2012, 07:00 BST

The group, which has 81 UK retail stores, said total sales in the 13 weeks to July 29 were up 20 per cent at £40.2m, while like-for-like sales rose by 1.7 per cent.

The company, which was founded in 1985 by chief executive Julian Dunkerton, said its sales of jackets, gilets and sweatshirts proved that the Superdry range offered a degree of protection against the weather.

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Supergroup has endured a stormy period, in which its chief executive of wholesale and international stepped down, annual profits fell by 15 per cent and it was forced to slow expansion plans.

Matthew McEachran, retail sector analyst at Singer Capital, said: “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.”