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UPDATE 1-Supergroup sales rise as weather chills
November 8, 2012 / 7:42 AM / 5 years ago

UPDATE 1-Supergroup sales rise as weather chills

* Q2 sales 98.4 mln stg, up 20.3 pct

* H1 sales 158.2 mln stg, up 16.2 pct

* On track to meet full-year expectations

LONDON, Nov 8 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, posted a rise in second-quarter sales helped by colder temperatures and said it was on track to meet full-year expectations.

SuperGroup said total sales of its trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 20.3 percent to 98.4 million pounds ($157.3 million) in its second quarter.

That compares to growth of 10 percent in the first quarter.

“The Superdry brand remains in good health and is well positioned ahead of our peak trading,” chief executive Julian Dunkerton said in a statement on Thursday.

Half-year sales rose by 16.2 percent to 158.2 million pounds ($252.9 million), the company said.

The firm, whose celebrity fans include David Beckham and Pippa Middleton, attributed its performance to colder weather and the popularity of its new Autumn/Winter range.

SuperGroup was one of 2010’s most successful stock market flotations. After listing at 500 pence its shares rocketed to a high of 1,899 pence in early 2011. But three profit warnings and a litany of management mistakes have led to a dramatic reverse in early 2012.

In August the firm’s co-founder Theo Karpathios, who owns 14.8 percent of the stock, abruptly quit. (ID:nL6E8JE1I)

Shares in the firm closed Wednesday at 659.5 pence, valuing the business at 529.15 million pounds ($845.98 million).

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