Superdry’s interim results for the half-year to end of October 2017 reveal group revenue up 20.4% to £402.0m (1H17: £334.0m), including a £12m benefit from foreign exchange.
The clothes retailer also reported wholesale revenue up by 34.1% to £159.3m (1H17: £118.8m) and retail revenue up 12.8% to £242.7m (1H17: £215.2m).
E-commerce revenue growth was 31.6% compared to 21.6% in the first half of 2017, while store revenue was £181.5m (1H17: £168.7m) up 7.6% year-on-year
Group gross margin was down slightly to 57.1% (1H17: 58.8%), reflecting announced investment to reduce inventory levels and sales mix to Wholesale channel.
Underlying2 profit before income tax was up 20.5% to £25.3m (1H17: £21.0m), with reported profit before income tax of £9.1m (1H17: £12.7m) reflecting the fair value movement on forward exchange contracts.