Superdry Revenue Climbs on Online Sales

LONDON, United Kingdom — British clothing and accessories maker Superdry Plc on Thursday posted double-digit growth in full-year revenue on strong online sales, and declared a special dividend.

Shares of the company jumped as much as 12 percent in morning trading on the London Stock Exchange as it stuck to its 2019 forecast for revenue and operating margin growth and said it would pay a 25 pence per share special dividend.

Superdry, whose trademark jackets, hooded tops and joggers are popular with young people, has looked to capitalise on e-commerce to offset pressures faced by its brick and mortar stores, which was hit by adverse weather in the UK earlier this year.

E-commerce revenue jumped 25.8 percent for the full-year, helping the company post a 9.2 percent rise in retail revenue, which makes up about 70 percent of their total.

Revenue from the wholesale segment surged nearly 30 percent in the year.

Group revenue rose 16 percent to £872 million, while underlying profit before tax was up 11.5 percent at £97 million.

By Shashwat Awasthi; editor: Amrutha Gayathri.