Online sales at retail company SuperGroup, owner of the Superdry fashion label, more than doubled in its latest financial year.
The company, which also owns the Cult retail brand, today said internet sales were up by 180% in the fourth quarter of its year, ended May 1, and had more than doubled in the full year. In an interim management statement SuperGroup said its online presence had expanded over the course of the year, adding a number of foreign language sites.
The rise in online sales contributed to broader growth in sales across the group. In the fourth quarter, total sales rose by 61% to £66m, from £41m at the same time last year, while full-year sales rose by 71% to £238m, from £139m last time. The company said pre-tax profits would be in line with market expectations.
During the year the company added 44 international stores, and thanks to its acquisition in February of CNC Collections BVBA, now SuperGroup Europe, is now selling in 22 countries worldwide. More openings are now planned in Europe, Asia and the Middle East.
Julian Dunkerton, chief executive officer, said: “We have had an excellent year both financially and in terms of our development, particularly overseas where we opened 44 stores and SuperGroup now has a strong platform for an accelerated roll out. We have a strategy that will continue to deliver sustained growth both in the UK and overseas.”