Q3 IMS

RNS Number : 9910W

SuperGroup PLC

08 February 2012

 



SuperGroup Plc

Q3 Interim Management Statement

SuperGroup Plc ('SuperGroup' or 'the Group'), owner of the Superdry brand and one of the fastest growing international branded clothing companies, today provides an interim management statement for the 13 weeks to 29 January 2012. 

	13 Weeks to			39 Weeks to
£m	29 January 2012	30 January 2011	Growth	29 January 2012	30 January 2011	Growth
Retail Sales1	78.5	61.4	27.8%	151.6	115.8	30.8%
Wholesale Sales	24.0	20.3	17.8%	87.0	56.2	54.8%
Group Sales	102.5	81.7	25.3%	238.6	172.0	38.7%

During the quarter, Retail sales of £78.5m grew by 27.8% compared with the same period last year, with like-for-like² sales increasing by 4.4%.  Following a solid Christmas trading period, which saw like-for-like Retail sales of 9.3% in December, there has been a slowdown in the last three weeks of January.

SuperGroup's UK store roll-out has continued with four new stores opened during the quarter at key locations including one floor of the Group's Regent Street flagship store.  The Group now trades from 76 UK standalone stores and 74 concessions.

As expected the Wholesale division returned to good growth in January with year-on-year sales up 59.2%, reversing the 3.8% decline in November and December.  Wholesale customers are receiving their "Spring/Summer 12" deliveries earlier than last year and are well placed for the season.

The quarter's variable performance in Retail has led management to revise its profit guidance and now expects profit before tax for the full year to be towards the lower end of the range of market expectations³.

Julian Dunkerton, Chief Executive Officer, commented:

"Retail sales during the quarter have been mixed, with a challenging last three weeks of January.  Whilst we continue to expand our retail, wholesale and internet businesses, our focus in the coming year will be on rolling out our new ranges in the UK and internationally and making improvements to the operational side of our business."

8 February 2012

Notes

1.   Retail sales include eCommerce revenues.

2.   Like-for-like sales growth is defined as year-on-year sales increases for stores and concessions for more than one year and includes eCommerce revenues.

3.   The Board considers market expectations for 2012 are best defined by taking the range of forecasts of profit before tax for the full year published by analysts who consistently follow the Group.  The current range of forecasts as at 7 February 2012 of which the Board is aware is £50.0 million to £54.1 million, with consensus of £52.6 million.  Nothing in this announcement should be construed as a profit forecast.

Conference call

SuperGroup will be hosting a conference call for analysts and investors at 0830 hours GMT today. Please call Jamie Ramsay at College Hill for dial-in details on 020 7457 2047 or email [e-mail].

Forthcoming News flow

Trading update 13 Weeks to 29 April 2012            10 May 2012

Preliminary results                                              12 July 2012

Cautionary Statement

This announcement contains certain forward-looking statements with respect to the financial condition and operational results of SuperGroup plc.  These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future.  There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements.  These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast.  Except as required by law, SuperGroup plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.

For further information

SuperGroup

Chas Howes                   Group Finance Director               [phone]

Tony Newbould              Investor Relations                       [phone]

Matthew Barnett             Public Relations                          [phone]

College Hill

Matthew Smallwood                                                       [phone]

Justine Warren

ENDS

 

END

 

 

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