Profit surge at Superdry fashionNews
Superdry fashion firm SuperGroup revealed a 60% jump in sales as it underlined its status as one of the UK's fastest-growing retailers.
The group, which has 49 stand-alone stores and 64 concessions within House of Fraser, banked £32.8 million in the three months to August 1 after it opened five stores in the UK, including its largest to date at Lakeside in Essex.
It is planning more outlets before Christmas, including at Glasgow's St Enoch Centre, as it looks to continue its recent rapid growth.
The business began life on a market stall in Cheltenham more than 20 years ago but floated nearly a third of the business in March to fund growth - triggering a huge windfall for directors including founder Julian Dunkerton.
The shares have more than doubled since the flotation to give the company a market value in excess of £850 million.
Mr Dunkerton said demand for SuperGroup's products in the UK and abroad remained strong. "Our new store design is proving to be a great success, reflected by the strong performance of recent UK store openings such as Lakeside," he added.
Freddie George, a retail analyst at Seymour Pierce stockbrokers, described SuperGroup's first quarter results as "outstanding", particularly in light of difficult comparatives with a year earlier and the impact of the World Cup.
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