The Business Magazine - B2B Business News - Site Logo
The Business Magazine March 2024
Read now
PICK YOUR EDITION

It's up, up and hooray for Superdry

23 December 2022
Share
The Business Magazine article image for: It's up, up and hooray for Superdry

Group revenue increased year-on-year 3.6 per cent at Cheltenham-headquartered retailer Superdry in the 26 period to the end of October, and the company has also confirmed that it had agreed a new financing facility.

The retailer's strong performance was thanks to sales in its owned stores, where revenue increased 14.4 per cent year-on-year.

Ecommerce revenue also increased, by 1.7 per cent year-on-year as traffic moved from online and back to stores, with jacket sales and AW22 performance from third party sites being the key drivers of growth.

Wholesale revenue decreased 5.2 per cent following low levels of dispatches in October which are expected to partially reverse in the second half.

Julian Dunkerton, Founder and Chief Executive Officer, said: “I’m pleased with the performance of the business over the half. It’s been well documented that conditions are extremely challenging which weren’t helped by the unseasonably warm weather in October and into November. However, by combining great product with affordable prices, we managed to grow sales in the first half. Our AW22 collection has been really well received by customers, especially our jacket range and party dresses, and it’s great to see store sales recovering well. I am also encouraged with how we have started the second half, which has seen our biggest ever week for Ecommerce orders driven by a return to record levels of jacket sales over the Black Friday period and good momentum through the recent spell of colder weather.

"That said we are under no illusions that consumer confidence is fragile and that the picture is unlikely to change quickly. We are very pleased to have completed our refinancing and this, combined with the continued strengthening of our brand and product, means the business is in good shape as we trade through our important Christmas trading period.”

 


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

Related topics

Related articles

Upcoming events

view more
01
May

South Coast Property Forum: Networking Lunch

Ennios Ristorante
Southampton
More info
06
Jun

South Coast Property Awards 2024

Hilton Southampton
Utilita Bowl
More info
18
Jul

Thames Valley Tech & Innovation Awards 2024

Reading FC Conference & Events
Select Car Leasing Stadium, Reading
More info
12
Sep

Thames Valley Property Awards 2024

Ascot Pavilion
Ascot Racecourse
More info
03
Oct

South Coast Tech & Innovation Awards 2024

Hilton Southampton
Utilita Bowl
More info
07
Nov

Thames Valley Deals Awards 2024

Reading FC Conference & Events
Select Car Leasing Stadium, Reading
More info
21
Nov

Hampshire Business Awards 2024

Farnborough International
Exhibition & Conference Centre
More info

Related articles