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| Supergroup shares jump on 'record' Christmas sales | Supergroup shares jump on 'record' Christmas sales |
| (about 3 hours later) | |
| Shares in Supergroup, the firm behind the Superdry fashion brand, have jumped 8% after the company reported its "best-ever" Christmas trading. | Shares in Supergroup, the firm behind the Superdry fashion brand, have jumped 8% after the company reported its "best-ever" Christmas trading. |
| For the nine weeks to 2 January, total sales almost doubled to £65.1m from a year ago. | For the nine weeks to 2 January, total sales almost doubled to £65.1m from a year ago. |
| The firm also said it had managed to counter the impact of rising cotton prices and its profit margins would not be affected this year. | The firm also said it had managed to counter the impact of rising cotton prices and its profit margins would not be affected this year. |
| Last month, Supergroup shares slumped over worries about rising costs. | Last month, Supergroup shares slumped over worries about rising costs. |
| This followed a statement in which the company expressed concerns about the increasing price of cotton. | This followed a statement in which the company expressed concerns about the increasing price of cotton. |
| Brand 'strength' | Brand 'strength' |
| Retail sales in the final two months of last year rose by 94% to £51.7m against a year earlier, while wholesale sales increased by 78% to £13.4m. | Retail sales in the final two months of last year rose by 94% to £51.7m against a year earlier, while wholesale sales increased by 78% to £13.4m. |
| "This performance demonstrates the strength of our brand and the loyalty of our customers," said the group's chief executive Julian Dunkerton. | "This performance demonstrates the strength of our brand and the loyalty of our customers," said the group's chief executive Julian Dunkerton. |
| "As a result of negotiations with our suppliers and selected price increases, we have largely mitigated the rise in cotton prices and there will be no impact to our 2011 gross margins." | "As a result of negotiations with our suppliers and selected price increases, we have largely mitigated the rise in cotton prices and there will be no impact to our 2011 gross margins." |
| Supergroup was launched in 1985 in Gloucestershire and has 59 stores under its Superdry and Cult brands, as well as 69 concessions. |