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SuperGroup to launch new flagship Superdry store in Regent StreetJune 20 2011, 8:37am
Clothing business SuperGroup (LON:SGP) revealed it plans to open an 'iconic' Superdry store in london's Regent street towards the end of the year.
In an update, the company said it had exchanged contracts for the deal and the shop, on four floors, would become its flagship London Superdry store.
The firm runs 61 standalone stores in the UK and 70 concessions and it aims to open 20 owned stores per year - a strategy which remained on track, it said.
Trading was in line with expectations, it added.
"Within that, retail growth remains approximately at the same level as in Q4 but has seen a marked improvement over the last three weeks and is complemented by strong wholesale growth," said the company.
In February this year, the firm purchased SuperGroup Europe BVBA, previously known as CNC Collections BVBA, to spearhead and accelerate its European growth.
Julian Dunkerton, CEO said today the business was continuing to grow strongly and added: "The potential for our brand remains, both in the UK and internationally, where we see largely untapped capacity and where the CNC acquisition is already proving critical in helping us to accelerate our growth.
"We have clear visibility on our roll-out programme for the first half and remain confident of delivering our target store openings this year. We remain positive about the outlook and the continued development of the group in the current year."
The firm is hosting an investor and analyst day today at its Cheltenham headquarters.