SuperGroup ends abysmal period with 13 % growth

SuperGroup ends abysmal period with 13 % growth

British SuperGroup, Superdry's parent company, finally got back on track after a rather abysmal run. Its latest results saw yearly turnover grow 13 %, mostly thanks to the excellent results of SuperdryStore's retail activities.

SuperdryStores at full speed

After a series of profit alerts, accounting errors and board changes, SuperGroup seems to be in full swing again: the fashion group ended its broken fiscal year, which ran until 25 April, with a 486.6 million pound (680 million euro) turnover, up 12.9 %. The bulk of that turnover comes from SuperdryStores, the 221 boutiques the company owns since buying back the American license. Their turnover grew 17 % (+ 4.8 % on a like-for-like basis), while wholesale activities added nearly 5 % and represents 31 % of the group's total turnover.

 

Underlying profit (excluding one-time income and costs) grew 2 % to 63.2 million pounds (nearly 90 million euro), which is right in the middle of the 60-65 million pound forecast management put forth at the start of May.

 

To China with joint venture

Meanwhile, the group has major expansion plans again: SuperGroup wants to get a hold of Austria, Italy, Spain and Poland while it wants to expand in Germany as well. It has already opened 18 German stores since 2012, but it craves even more as the goal is 50 stores in the next five years.

 

CEO Euan Sutherland, who succeeded Julian Dunkerton in October 2014, also announced a 10-year joint venture with Trendy International Group to conquer the Chinese market. The very first Chinese store should open within the next 12 months.

Questions or comments? Please feel free to contact the editors


Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, because Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Sainsbury’s wants to cut 1,000 jobs

07/08/2017

Sainsbury’s, the second largest supermarket chain in the United Kingdom, is allegedly planning to cut 1,000 office jobs in order to save up to 500 million pounds (550 million euro).

Higher Kraft Heinz profit despite lower turnover

04/08/2017

Food company Kraft Heinz’ second quarter like-for-like turnover dropped slightly, but the American company did manage to seriously enhance its profitability.

Max Koeune becomes new McCain CEO

03/08/2017

Max Koeune will become potato processing company McCain Foods’ new CEO. The Canadian family business revealed the news after its current CEO, Belgian Dirk Van de Put, moved to the world’s largest snack manufacturer, Mondelez.

Back to top