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| Supergroup shares hit as sales growth slows | Supergroup shares hit as sales growth slows |
| (about 2 hours later) | |
| Shares in Supergroup, the company behind the Superdry fashion brand, have slumped 18% after a slowdown in its sales growth. | Shares in Supergroup, the company behind the Superdry fashion brand, have slumped 18% after a slowdown in its sales growth. |
| Supergroup said total sales - which include those of its two other labels, 77Breed and SurfCo California - rose 61% to £66m in the quarter to 1 May. | Supergroup said total sales - which include those of its two other labels, 77Breed and SurfCo California - rose 61% to £66m in the quarter to 1 May. |
| This compares with sales growth of 87% seen in the preceding three months. | This compares with sales growth of 87% seen in the preceding three months. |
| The Cheltenham-based firm said it had not released its summer lines early enough for the warm April. | |
| Its chief executive Julian Dunkerton said: "We had too many hoods and jackets out and not enough flip flops and espadrilles." | Its chief executive Julian Dunkerton said: "We had too many hoods and jackets out and not enough flip flops and espadrilles." |
| He added the slowdown in sales was merely a blip, and that the firm was now looking at entering the Chinese market. | He added the slowdown in sales was merely a blip, and that the firm was now looking at entering the Chinese market. |
| "That's the big prize without a doubt," said Mr Dunkerton. | "That's the big prize without a doubt," said Mr Dunkerton. |
| "We don't want to do anything that isn't a spectacular deal and a spectacular deal will come." | "We don't want to do anything that isn't a spectacular deal and a spectacular deal will come." |
| Supergroup owns both its own stores, and sells its clothing wholesale to other retailers. | Supergroup owns both its own stores, and sells its clothing wholesale to other retailers. |
| It was founded in 1985, and today owns 71 outlets, with operations in 36 different countries. | It was founded in 1985, and today owns 71 outlets, with operations in 36 different countries. |