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Reuters
Published
Feb 9, 2011
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SuperGroup Q3 sales jump 87 pct

By
Reuters
Published
Feb 9, 2011

Feb 9 - SuperGroup, the British company behind the Superdry fashion brand, posted an 87 percent rise in third-quarter sales, showing strong trading momentum after a stellar Christmas performance.

SuperGroup
Superdry

The firm, whose clothes are a favourite of celebrities such as David Beckham, Leonardo DiCaprio and Zac Efron, said on Wednesday total sales were 81.7 million pounds ($131.3 million) in three months to Jan. 30.

The rise compares with an increase of 90 percent in the nine weeks to Jan. 2.

Retail sales of its trademark T-shirts, hoodies, check shirts and jogging bottoms were up 92 percent to 61.4 million pounds, driven by new store openings and growth in its internet business.

Wholesale sales increased 73 percent to 20.3 million pounds, reflecting aggressive international expansion.

Prior to Wednesday's update analysts were forecasting a year to end-April 2011 consensus pretax profit of 46 million pounds, according to Thomson Reuters I/B/E/S data. SuperGroup was one of 2010's most successful IPOs after listing at 500 pence in March.

Its shares have more than trebled since, hitting a high of 1,793 pence on Feb. 7 on the back of soaring sales and a deal to buy out its European franchisee, CNC Collections, for 40 million euros.

The stock closed at 1,745 pence on Tuesday, valuing the business at 1.39 billion pounds.

(Reporting by James Davey, editing by Mark Potter)

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