Superdry owner announces launch of new standalone sports stores
SUPERGROUP is to launch standalone sports stores as it aims for a bigger slice of the "athleisure" market.
Supergroup - owner of Superdry - is to launch standalone sports stores
The owner of Superdry plans to roll out up to five Superdry Sport stores by Christmas, broaden its product range and raise availability online.
Chief executive Euan Sutherland said: "The customer response to the Superdry Sport concept has been unbelievable, giving us confidence to go to the next stage.
"Sport has huge growth opportunities and we are extremely well placed to succeed given our brand heritage."
The growth predicted in the sports market is expected to exceed that of the mainline fashion market
He added: "The growth predicted in the sports market is expected to exceed that of the mainline fashion market.
"We've already been in the athleisurewear market because of our sweatshirts, t-shirts and joggers, but we are now extending into more technical sportswear."
The stores aim for a bigger slice of the 'athleisure' market
Kate Calvert, analyst at Investec, said that Supergroup "has changed materially over the last three years, which is underappreciated".
She continued: "A consistent growth track record is developing and it is a truly international business, capable of delivering earnings growth for the forseeable future in our view."
Supergroup boosted underlying annual pre-tax profit by 18.4 per cent
Supergroup boosted underlying annual pre-tax profit by 18.4 per cent to £87million on 27.4 per cent higher revenue of £752million.
Same-store sales grew 12.7 per cent, shares rose 41p to 1536p.