STABILITY

Fashion retailer Supergroup has unveiled plans to launch a chain of standalone sportswearstoresasitlookstocashin on the lucrative fitness market.

The company, which is behind the Superdry brand, said it will open a raft of Superdry Sport standalone stores in a move aimed at accelerating its “global lifestyle” strategy.

The first Superdry Sport standalone franchise will be in Grenoble, opening in October, and the group plans to roll out up to four more stores by Christmas before a wider round of openings next year.

The firm pointed to its two largest markets, the UK and Germany, for sport, worth some $9.4 billion (£7.2bn) and $11.2bn respectively.

The world’s largest market for sportswear is the US, one of Supergroup’s “development markets”, at $103.6bn currently.

Chief executive Euan Sutherland said the expansion will come in the guise of “shops in shops, franchise outlets and an extended online presence”. The group made the announcement yesterday

0 Supergroup is looking to accelerate its ‘global lifestyle’ strategy

EUAN SUTHERLAND, CEO alongside full-year results, which saw it report a 53.1 per cent rise in pre-tax profits to £84.8 million for the 52 weeks to 29 April while sales rose 27.4 per cent on a comparable 52-week basis to £752m. Likefor-like retail sales grew by 12.7 per cent.

The firm had been forced to rush out a summary of its full-year results to the stock exchange on Thursday afternoon following “a random theft from an employee”. It took action after discovering that an “external party” may have seen a draft of its preliminary results. The group had been due to publish its full-year results this coming Thursday, but decided to release an unaudited version of the headline figures following the incident.

Shareholders are set to pocket a full-year ordinary dividend of 28p per share, an increase of 20.7 per cent on the year before.

Sutherland said: “Supergroup has made further significant progress this year, delivering growth in sales,

“Supergrouphasmade further significant progress this year, delivering growth in sales, profit and the ordinary dividend.”