Superdry plc: half year pre-close trading updateSource: EQS
("Superdry" or "the Company")
Pre-Close Trading Statement
Trading update covering the 26-week period ('H1 22') and the 8-week period ('8 weeks') to
Encouraging start to Autumn/Winter 2021 season;
As consumers continue to return to stores, I am really excited about the opening of our new flagship store in
The improvement in trading in our Retail channels across the 8-week period has been encouraging, as we have exited sale and fully launched our AW21 collection. As anticipated, the full-price performance seen through the Summer has translated into stronger overall performance going into the peak Autumn months. Our core categories are resonating well, with AW21 jackets particularly strong. Womenswear mix is up 8%pts vs FY20 and represented 8 of our 10 top selling products in October.
Much of the recent improvement has been delivered by Ecommerce, which is up 6.6% on a two-year basis. Growth gathered momentum in October as we finally began to trade against a comparable full-price period, following an extended sale in September FY20. This performance has been supported by our growing investment into social marketing.
The pandemic continues to materially impact physical store trading. First half performance was negatively impacted by temporary closures in
Our full-price discipline continues to deliver increased profitability and in H1 has resulted in an improvement in gross margin across both Stores (+5.6%pts) and Ecommerce (+9.2%pts) year-on-year.
We currently have no significant availability issues in our retail operations arising from supply chain delays with sufficient options already in store to drive and maintain performance.
In line with the rest of the sector, the impact of global supply chain delays has been greater on our Wholesale channel due to the need to consolidate stock to fulfil orders. Despatches are 4-6 weeks behind plan as a result of intake delays, but we continue to work closely with our partners and do not currently foresee a risk to the season, with the majority of this timing reversing in H2.
Despite the drag experienced from
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Notes to Editors
Our mission is "To inspire and engage style obsessed consumers, while leaving a positive environmental legacy" through hyper-segmentation of twelve consumer types across five collections. We design affordable, premium quality clothing, accessories and footwear which are sold around the world. We have a clear strategy for delivering continued growth via a multi-channel approach combining Stores, Ecommerce, and Wholesale.
This announcement contains certain forward-looking statements with respect to the financial condition and operational results of
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