Superdry revenue increases after customers flock back to stores
UK clothing company Superdry has posted an 8 per cent increase in group revenue after customers returned to the stores post-Covid.
In the 12 months ended 23 April, Superdry’s revenue increased to £600m, driven by a 59.8 per cent growth in store revenue.
Proceedings derived by Superdry’s e-commerce business, on the other hand, went down 24 per cent year-on-year – a sign that post-pandemic customers want to go back to clothes shopping in person.
“We continue to execute our strategy of returning the Superdry brand to a premium position and I am excited by the progress we are making,” said chief executive Julian Dunkerton.
After posting a 4.2 per cent wholesale growth, Superdry said it will deliver “a strong gross margin improvement for FY22,” despite tougher market conditions.
“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver product that stands for what is important to them: quality, style and sustainability at great value,” Dunkerton added.
“As we head into FY23 we remain cautious on the macroeconomic outlook and the impact of inflation but are confident that our strategy is positioning the brand for future success.”