Sales rise as Su­perdry de­fies heat

Western Daily Press - - Business - ALYS KEY PA City re­porter

SU­PERDRY sales rose in the first half de­spite a run of hot weather hit­ting de­mand for its sig­na­ture win­ter cloth­ing.

Group rev­enue rose 3.1 per cent to £414.6 mil­lion in the 26 weeks to Oc­to­ber 27, driven by whole­sale and on­line growth, while in-store sales de­clined.

But the Chel­tenham-based com­pany warned its per­for­mance would be heav­ily in­flu­enced by sec­ond-half sales, which could be neg­a­tively af­fected if the tem­per­a­ture in key mar­kets re­mains high.

“We have not yet seen a sus­tained pe­riod of sea­son­ally typ­i­cal weather,” the group said.

Dur­ing the pe­riod, the amount of re­tail space grew by 9.4 per cent.

Su­perdry’s cur­rent man­age­ment has faced crit­i­cism from the com­pany’s founders over its strat­egy of putting a wider range of prod­ucts in stores. Co-founder Ju­lian Dunker­ton, who still owns a size­able stake, said there should be a small range of core prod­ucts in store and a wider range of items on­line.

But Su­perdry re­it­er­ated its strat­egy yes­ter­day, say­ing it had made progress on its denim range and or­ganic cot­ton T-shirts.

Chief ex­ec­u­tive Euan Suther­land said: “We are six months into a prod­uct di­ver­si­fi­ca­tion and in­no­va­tion pro­gramme and, as we said in the sum­mer, it will take up to 18 months for the ben­e­fits to come through.

“In the mean­time, we are well pre­pared for peak trad­ing and the team re­mains highly fo­cused on the de­liv­ery of sales growth and fur­ther ef­fi­cien­cies in the re­main­der of the year.”

Su­perdry’s group rev­enue has risen by 3.1 per cent

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