Momentum is building behind UK clothing retailer SuperGroup (SGP), as the company reported better-than-expected first-quarter trading. Group sales jumped nearly 26 per cent to £75m, with retail sales up 17.6 per cent to £53.2m. On a comparable basis, retail sales grew an impressive 8.5 per cent - well ahead of city forecasts.
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A 51 per cent rise in wholesale revenue was flattered by delivery timings, but the Autumn/Winter 2013 order book, a good indicator for underlying growth, grew 26 per cent on last year. This suggests two things: third-quarter retail sales will be robust and SuperGroup's new clothing ranges are proving popular.
