Nov 8, 2012
Supergroup sales rise as weather chills
Nov 8, 2012
LONDON - SuperGroup, the British company behind the Superdry fashion brand, posted a rise in second-quarter sales helped by colder temperatures and said it was on track to meet full-year expectations.
SuperGroup said total sales of its trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 20.3 percent to 98.4 million pounds ($157.3 million) in its second quarter.
"The Superdry brand remains in good health and is well positioned ahead of our peak trading," chief executive Julian Dunkerton said in a statement on Thursday.
Half-year sales rose by 16.2 percent to 158.2 million pounds ($252.9 million), the company said.
The firm, whose celebrity fans include David Beckham and Pippa Middleton, attributed its performance to colder weather and the popularity of its new Autumn/Winter range.
SuperGroup was one of 2010's most successful stock market flotations. After listing at 500 pence its shares rocketed to a high of 1,899 pence in early 2011. But three profit warnings and a litany of management mistakes have led to a dramatic reverse in early 2012.
In August the firm's co-founder Theo Karpathios, who owns 14.8 percent of the stock, abruptly quit. (ID:nL6E8JE1I)
Shares in the firm closed Wednesday at 659.5 pence, valuing the business at 529.15 million pounds ($845.98 million).
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