Superdry is ready to run with standalone sport stores after stellar results see an 18.4 per cent rise in profits

Superdry Sport SuperGroup

Superdry, the Japan-inspired casual clothing brand, is to push ahead with launching standalone sports stores after releasing a positive set of year-end results.

The brand’s parent, SuperGroup, this morning announced that its revenue was up 27.4 per cent on the previous year while retail like-for-like sales grew by 12.7 per cent.

Underlying profit before tax was up 18.4 per cent to £87m, meanwhile, and the London-listed business announced a full-year ordinary dividend of 28p per share.

“The group is globally diversified and financially strong and we remain confident in our strategy to further embed Superdry’s position as a global lifestyle brand,” said chief executive Euan Sutherland.

“Investment in infrastructure is underpinning our global growth plans and creating future leverage opportunities, while ongoing product innovation and new social and digital marketing campaigns are introducing new customers to the Superdry brand.”

SuperGroup’s share price was up 5.28 per cent today.

The group has decided to capitalise on its year of success by launching dedicated sports stores, to “showcase the successful Superdry Sports brand and help accelerate the global lifestyle brand strategy”, according to Sutherland.

He added that the sportswear line is now sold in more than 100 countries.

Superdry already has 555 branded stores across the globe, having added 80 more last year.

However, two of SuperGroup’s non-executive directors have announced they will step down following the results.

Steve Sunnocks and Beatrice Lafon, both of whom were appointed last year, will not stand for re-election at September’s annual general meeting as they have since taken on new roles which “could impact their ongoing availability to fully support SuperGroup”, according to the business.

Sunnucks is also non-executive chairman of Helly Hansen, and has held leadership positions at clothing companies including The Gap and New Look.

Lafon was previously chief executive of Claire’s Accessories, and led the sale of TJ Hughes in the UK.

Read the full article here