SuperGroup - Supercharged
A reassuring trading update confirms that SuperGroup continues to deliver attractive top-line growth. Admittedly, the superior wholesale performance means (as previously flagged by the company) that there is likely to be some gross margin erosion, but the focus on operational leverage should still ensure a modest improvement in operating margins going forward. Management’s commercial and pragmatic approach to expansion should mean continued success as the brand rolls out beyond its core markets of the UK and continental Europe.SuperGroup provides clothing and accessories under the Superdry brand. Co.'s multi-channel business is categorized by the following routes to customer: Retail, which comprises the entire owned store portfolio in the U.K., Europe and North America together with Co.'s e-commerce websites; E-Commerce, which, at Apr 29 2017, consisted of 27 international websites across 18 countries covering 12 different languages connecting Co.'s Wholesale and Retail channels; and Wholesale, which consists of independent retailers and international distribution partners that are responsible for supplying the independent retail markets in their respective territories.
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