* Q1 total sales up 59.8 pct to 32.8 million pounds
* Q1 retail sales up 62.7 pct, wholesale sales up 53.9 pct
* CEO says does not expect growth to slow
* SuperGroup shares down 4.2 pct at 1,101 p, index flat
(Adds CEO, analyst comment, updates shares)
By James Davey
LONDON, Sept 14 (Reuters) - SuperGroup (SGP.L), the British
company behind the Superdry fashion brand worn by celebrities
such as David Beckham, reported soaring sales, underscoring its
status as one of the hottest fashion labels around.
But shares in the retailer and wholesaler, which listed at
500 pence in March, fell 4.2 percent to 1,101 pence by 1204 GMT,
valuing the business at about 823 million pounds ($1.27
billion), having risen 7 percent on Monday. The FTSE All Share
index was 0.2 percent lower.
"It's had a very strong run, so it's just a bit of profit
taking," said Nick Bubb, analyst at Arden Partners.
SuperGroup, which had Britain's most successful IPO so far
this year, said on Tuesday total sales jumped 59.8 percent to
32.8 million pounds in the three months to Aug. 1, its fiscal
first quarter.
Founder and Chief Executive Julian Dunkerton, who along with
SuperGroup's other management shared 105 million pounds of the
120 million pound IPO proceeds, forecast a successful year
outcome and said he would not expect growth in sales of the
company's trademark T-shirts, hoodies, check shirts and jogging
bottoms to slow, despite tough macro headwinds.
"I see no reason to believe that we will not continue
growing in the nature that we have been growing. Young people
have to look good," he told Reuters.
Dunkerton said SuperGroup, unlike fashion brands such as
French Connection (FCCN.L), would sustain its growth because it
was hitting a gap in the market for quality, value for money,
branded clothing that is not reliant on one product or one logo.
SuperGroup, whose clothes are a favourite of film stars
Leonardo DiCaprio and Zac Efron, trades from 49 stand-alone
Superdry and Cult stores in Britain and 64 concessions and has a
wholesale business in 34 countries.
The company has a 20 stores a year opening programme and
sees scope for 150 Superdry and Cult stores in UK/Ireland.
Watch Celebrities Online
* Q1 retail sales up 62.7 pct, wholesale sales up 53.9 pct
* CEO says does not expect growth to slow
* SuperGroup shares down 4.2 pct at 1,101 p, index flat
(Adds CEO, analyst comment, updates shares)
By James Davey
LONDON, Sept 14 (Reuters) - SuperGroup (SGP.L), the British
company behind the Superdry fashion brand worn by celebrities
such as David Beckham, reported soaring sales, underscoring its
status as one of the hottest fashion labels around.
But shares in the retailer and wholesaler, which listed at
500 pence in March, fell 4.2 percent to 1,101 pence by 1204 GMT,
valuing the business at about 823 million pounds ($1.27
billion), having risen 7 percent on Monday. The FTSE All Share
index was 0.2 percent lower.
"It's had a very strong run, so it's just a bit of profit
taking," said Nick Bubb, analyst at Arden Partners.
SuperGroup, which had Britain's most successful IPO so far
this year, said on Tuesday total sales jumped 59.8 percent to
32.8 million pounds in the three months to Aug. 1, its fiscal
first quarter.
Founder and Chief Executive Julian Dunkerton, who along with
SuperGroup's other management shared 105 million pounds of the
120 million pound IPO proceeds, forecast a successful year
outcome and said he would not expect growth in sales of the
company's trademark T-shirts, hoodies, check shirts and jogging
bottoms to slow, despite tough macro headwinds.
"I see no reason to believe that we will not continue
growing in the nature that we have been growing. Young people
have to look good," he told Reuters.
Dunkerton said SuperGroup, unlike fashion brands such as
French Connection (FCCN.L), would sustain its growth because it
was hitting a gap in the market for quality, value for money,
branded clothing that is not reliant on one product or one logo.
SuperGroup, whose clothes are a favourite of film stars
Leonardo DiCaprio and Zac Efron, trades from 49 stand-alone
Superdry and Cult stores in Britain and 64 concessions and has a
wholesale business in 34 countries.
The company has a 20 stores a year opening programme and
sees scope for 150 Superdry and Cult stores in UK/Ireland.
Watch Celebrities Online
