Superdry global sales jump by more than +22%

Global brand sales at Superdry leapt by +22.1% to £1.6bn for the full year ending 28 April 2018 with positive growth in all territories, it has revealed in a Trading Update today.

Group revenue was up +16% to £872m, which the business said was driven by strong growth in its "capital light" channels of wholesale, which was up +29.6% year-on-year to £323.4m, and e-commerce, which was up +25.8% to £163.1m.

Store sales came under pressure in particular with snow disruption and a colder than average start to the spring season, impacting sales in Q4. However they were still up 3.4% year-on-year at £385.5m.

The group offered guidance on full year profit before taxation saying it will be in the range of £96.5m to £97.5m, representing a further year of double-digit profit growth.

"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. We benefit from a clear brand positioning, an agile infrastructure that serves our global consumers through a truly multi-channel proposition and increasing operational excellence. 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," said chief executive Euan Sutherland.

"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," he added.