Superdry bucks high street trend with big profits
By Sarah Wood | 11th May 2018
Superdry has seen profits soar over the last year, despite challenging high street conditions which have hit a number of other retailers hard.
The Cheltenham-based company reported another good year of growing brand awareness and profit growth.
In the 12 months to 28th April, the retailer saw global brand revenue jump 22.1 per cent to £1.6 billion, thanks to a 29.6 per cent boost in its wholesale channel and a 25.8 per rise in online sales.
It expects to see a double-digit rise in pre-tax profits for the same period, coming in between £96.5 million and £97.5 million.
Store sales saw a modest growth over the year of 3.4 per cent, but Superdry expanded its retail square footage by 14.8 per cent, and entered eight new markets through its wholesale channel. It opened 75 franchises in 33 different countries around the world, including eight standalone Superdry Sport stores.
Euan Sutherland, Superdry CEO, said: "Superdry has delivered another good year of brand revenue and profit growth as we have sharpened our focus on our successful Global Digital Brand strategy. Our multi-channel proposition means consumers can choose how they want to engage with the brand, allowing them to switch easily between our stores and our digital channels.
"While the consumer environment remains challenging, we are confident that Superdry's reputation for quality, design detail and strong value for money, underpinned by our continued investment in the business, leaves us well placed. We remain focused on the growth opportunities ahead and confident in the quality of sustainable earnings growth we can deliver over the long-term."
Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.