SuperGroup Plc (SGP.L) on Thursday said sales in the 13 weeks ended April 29 increased over 14 percent with growth in both retail and wholesale businesses.
Group sales climbed to 75.2 million pounds from 65.9 million pounds. Retail sales grew to 39.4 million pounds from 31.6 million pounds and like-for-like sales were flat. Online performance was strong but the challenging retail environment witnessed a slow-down in sales from stand-alone stores and concessions.
Wholesale Sales grew to 35.8 million pounds from 34.3 million pounds. The underlying growth rate was around 9 percent before adjusting for the year end translation of currency.
According to the company, the slow-down in reported growth rate of the Wholesale business was impacted by the annualisation of the SuperGroup Europe acquisition and the continued expansion of the UK Retail business. In addition, growth was adversely impacted at the end of the quarter by delays to franchise stock shipments.
Julian Dunkerton, CEO, said, ''Although the fourth quarter has been a disappointing end to a challenging year, the brand remains strong and this, together with the Group's investments in key senior personnel and system infrastructure, provides a solid platform for the coming financial year."
by RTT Staff Writer
For comments and feedback: email@example.com