Supergroup which owns both Cult and Superdry brands has reported a rise in sales after 12 months of uncertainty.
In September of last year, the company was hit by a problem with holding stock in their warehouse in Gloucester.
Speaking of the issue at the time, a spokesperson said: “The total cost of this isolated event, including the additional temporary warehousing capability and resulting lost sales will impact the current year’s profitability by between £6m and £9m.”
However, the company has since turned things around and has reported a pre-tax profit rise of 8.7 per cent. Given the good news, share prices have also increased by 9.5 per cent.
Speaking of the upturn in profits, Julian Dunkerton Chief Executive of the group said: “Despite the backdrop, the Superdry brand remains strong and I am encouraged by the potential for our 2013 ranges.”
Supergroup currently has 76 UK commercial properties which stock Superdry and Cult branded clothes. They also have 74 concession stores which operate in larger commercial properties. Superdry is their main brand and makes up almost 80 per cent of the total sales. Items sold include: bags, footwear, hoodies, jackets, jeans, T-shirts and shirts. Celebrity fans of the brand include David Beckham and Pippa Middleton.
Are you a fan of Spergroup’s clothing range? Do you think the company can put their past problems behind them and continue to sell this well-loved brand on the high street?
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