Superdry delivers double digit growth

Published by

Nicky Godding

Cheltenham-headquartered global fashion brand Superdry has reported double digit growth in sales, profits and dividends alongside an increased reach of the Superdry brand.

Euan Sutherland, Superdry Chief Executive Officer, said: "Superdry has had another strong year, enhancing our position as a global digital brand with a multi-channel approach. We have made good progress in delivering our strategy and significantly strengthened our platform and capabilities, while delivering another year of double digit growth in sales and profitability."

The company's focus remains on driving its growth strategy and realising the potential the company believes it has yet to realise across products, geographies and channels. Significantly, as many other bricks and mortar fashion retailers continue to struggle, Superdry has increased store revenues by over three per cent.

"Our eight routes to market mean we can continue to tailor by territory and channel, while our innovative approach to digital marketing means we can enhance our relevance to consumers around the world," said Euan.

"Whilst the consumer environment continues to be challenging, the Board remain confident that Superdry is a uniquely advantaged, highly cash-generative business that will continue to deliver sustainable growth for our investors," he said. "This confidence is demonstrated through our second special dividend in two years of 25p per share in addition to an 11.4% increase in the total ordinary dividend."

In the year to April 2018, global brand revenue is up 22.1 per cent to £1.60 billion, with growth in all key territories. Group revenue is up 16 per cent to £872 million. Wholesale revenue up 29.6 per cent, including eight new markets reached in the year and retail revenue is up 9.2 per cent, driven by ecommerce revenue up 25.8 per cent, increasing participation to 29.7 per cent, with store revenue up 3.4 per cent.

Underlying profit before tax is up 11.5 per cent to £97 million.

In March, Superdry's co-founder Julian Dunkerton stepped down from the board in order to devote more time to his other business and charitable interests.

He said: "I am immensely proud of everything achieved at Superdry over the past fifteen years. As a fast-growing, innovative business, Superdry has always evolved to ensure it keeps delivering. With other demands on my time it is the right point for me to transition my focus and responsibilities."

Peter Bamford, Chairman of Superdry, praised Julian for his outstanding contribution in building Superdry into an international brand.

Superdry operates 246 stores across the world., with a further 412 franchised or licensed.

Nicky Godding

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.