SuperGroup, the UK fashion retailer which owns the SuperDry clothing chain, saw its share price explode on Thursday morning as a trading report showed a like-for-like sales growth of 11.3% in the year up to April.
Total revenues rose 21% to £589.5 million ($852 million), with a retail growth of 24.5%.
It’s quite a turnaround for the company, which just a year and a half ago issued profit warnings after missing annual projections.
Much of the growth is down to expansion: SuperGroup added 136,000 sq foot of store space over the year. There are now 202 stores over the world compared to 178 the year before.
The report said SuperGroup planned to open two distribution centres during 2016, “to serve its retail customers in Europe and North America better and to ensure that we have a scaleable platform to support our growth ambitions.”
Sales also benefitted from a “collaboration” with the actor Idris Elba, who was the face of the SuperDry brand over 2015.
CEO Euan Sutherland said the group would aim to get even bigger:
“We have opened 24 net new stores across our targeted European markets and have a strong pipeline of new stores for the new financial year.”
“During the quarter the Group paid its first dividend in line with our progressive dividend policy whilst retaining sufficient capital to support our investment programme. Our focus remains on the extension of the Superdry brand and execution of clear growth opportunities, under-pinned by continued investment in infrastructure to strengthen our business.”
Share prices for SuperGroup rose by more than 12% on Thursday morning. Here’s what that looks like as of 11:35 AM GMT:
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