UK fashion all the rage
British fashion has been really happening, after reports of a sharp rise in sales from home and abroad.
Burberry's sales have risen by 9% to £370 million in the previous three months, compared with like-for-like sales up 12%
SuperGroup, the owner of Superdry that makes clothing for SuperPeople, reported a 3.2% rise in like-for-like sales for the last year, while Primark said that sales rose by 22% on a constant currencies basis in the 16 weeks to June 21.
Burberry said that exchange rates will be a material (HAHAHA SEE WHAT THEY DID THERE) impact on profits, warning that retail and wholesale profits would be reduced by £55m. Probably helped by having that Harry Potter lady in their ads too. Tourists love that.
Primark, SuperGroup and Burberry are leading a charge of British fashion brands expanding overseas, as the citizens of the world get lured in by Cara in a mac or try and channel middle-aged gays in SuperDry. Meanwhile, Primark is preparing to open its first US store in Boston in 2015.
Christopher Bailey of Burberry, said: "This first quarter performance reflects our focus on striving to give customers the best possible experience of the Burberry brand through ongoing investment in retail, digital and service, both on and offline.
"The 12% increase in comparable sales demonstrates our teams' success in unlocking the benefits of these investments, as we continue to concentrate on the things we can control in an uncertain external environment."
Meanwhile, although it looks like SuperGroup are all happening and reporting an increase in sales, pre-tax profits for the year to from £51.8m to £45.2m. Shares in the retailer slumped in May after SuperGroup warned that like-for-like sales had fallen in the final quarter of its financial year.
Fortunately chief exec Julian Dunkerton insisted the results represented a "solid performance"
"With a strong pipeline of new stores, particularly in mainland Europe, we are well positioned for further profitable growth in the year ahead. The strength of the Superdry brand and the investment we have made in our business leaves me confident in our ability to implement and deliver the growth strategy."
So hurrah for British clothing brands being a thing around the globe!