Supergroup interim Q3 sales up 22.1 percent

REPORT_ Supergroup has provided an interim management statement

covering the 13 week period to January 26, 2014. Total group sales for the quarter have increased by 22.1 percent to 141.1million pounds (230.1 million dollars). For the 39 weeks to January 26, 2014 sales have increased by 21.7 percent to 333.2 million pounds (543.5 million dollars).

Total retail sales in the 13-week period were up 18.2 percent. Like-for-like sales for the quarter were up 1.3 percent but, adjusted for the impact of eBay, are up 4.9 percent. Year-to-date sales have grown by 18.7 percent to 230.7million pounds (376.3 million dollars) and cumulative like-for-like growth is over 4.7 percent or over 7 percent adjusting for eBay.

Commenting on the results, Julian Dunkerton, Chief Executive Officer, said, "I am pleased that our on-going strong sales growth and improved margins mean the business remains on track to deliver profit in line with market expectations. Our strong Spring/Summer 2014 order book and the positive responses from both the media and our trading partners to the Autumn/Winter 2014 range presented at the London men’s fashion week, give me confidence in the product range going forward and the strength of the brand.”

Wholesale sales for the 13-week period were up 41.7 percent on the prior year, whereas, year-to-date sales have increased by 29.0 percent. Underlying sales growth remains in line with the previously announced order book number of over 26 percent.

During the third quarter, the group opened 14 franchised stores, closed three, and transferred seven stores into the retail estate. Stores were opened in France (2), Hong Kong (2), Latvia, Malaysia (2), Philippines (2), Spain (2), South Korea and Thailand (2). Year-to-date the Group has opened 35 franchise stores, net of closures taking the total to 177.