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Wholesale and ecommerce fuel strong Superdry sales

Superdry owner SuperGroup has continued its strong international performance, as sales soared thanks to rocketing wholesale and ecommerce growth in the year to 29 April 2017.

Revenue was up 27.4% to £752m driven by a 35% growth in ecommerce sales and a wholesale revenue increase of 43.2% to £249.5m. Like-for-like retail sales increased by 12.7%. Underlying profit before income tax was up 18.4% to £87m.

UK revenues rose to £319.2m, while European sales grew to £332.9m, up from £234.2m in 2016. Sales in the rest of the world hit £99.9m, up from £50.4m in 2016.

Over the course of the year, Superdry increased its total number of stores by 80 to 555, including seven new stores in the US and eight stores in China (including three franchised stores).

Chief executive Euan Sutherland said: “SuperGroup has made further significant progress this year, delivering growth in sales, profit and the ordinary dividend as we maintained momentum against all elements of our strategy.

”Our focus on delivering long-term sustainable growth continues, through a multichannel approach that balances a disciplined owned and franchised store-opening programme with further development of our re-engineered wholesale channel and strong ecommerce proposition.

“Investment in infrastructure is underpinning our global growth plans and creating future leverage opportunities, while ongoing product innovation, and new social and digital marketing campaigns are introducing new customers to the Superdry brand.”

The full results were released earlier than planned, after what the company referred to as “a random theft from an employee” opened the possibility that an external party may have already seen a draft version of the preliminary results.

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