Fashion retailer SuperGroup has announced plans to launch a chain of standalone sportswear stores as it looks to cash in on the lucrative fitness market. The group increased its global retail footprint by 80 stores to 555 during the year, opening 154,000 sq ft of owned store space and net 59 new franchise locations.
SuperGroup made the announcement alongside full-year results, which saw t he company report a 53.1% rise in pre-tax profits to £84.8 million for the 52 weeks to April 29 while sales rose 27.4% to £752 million.
SuperGroup said 72% of its total sales volume is now from outside the United Kingdom, while 98% of its new retail square footage opened in the past year was overseas. Revenue was up 26% to GBP752.0 million from GBP597.5 million year-on-year, with like-for-like sales growth of 13%.
SuperGroup enjoyed growth in sales in all of its global markets, too. In the United Kingdom, revenues increased to £319.2 million, European sales grew to £332.9 million, while in the rest of the world it grew to £99.9 million. This includes seven new stores in the United States and eight stores in China.
Euan Sutherland, chief executive, said that worldwide sales had helped Supergroup to offset some of the currency impact that his fashion rivals had suffered as a result of the weaker pound.
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"Our focus on delivering long-term sustainable growth continues, through a multi-channel approach that balances a disciplined owned and franchised store opening programme with further development of our re-engineered wholesale channel and strong e-commerce proposition".
On Brexit, Sutherland said he had not seen any slowdown in consumer confidence in the UK.
The company said the Brexit vote last June and fluctuating exchange rates have had the most significant direct impact.
The group published highlights of its annual results on Thursday after it believed an external party "may have had sight of a draft" of its preliminary results following a random theft from an employee.
"The Superdry brand has proved resilient while the increased exposure of the business to different countries, markets and currencies has been important in providing some insulation from that impact".
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