U.K. Retailer Supergroup To Launch Sports Stores As Profits Rise

Supergroup, the company behind the Superdry fashion brand, announced "it is launching standalone sports shops" to tap into the fast growing "athleisure" market as profits and sales "jumped," according to Ashley Armstrong of the London TELEGRAPH. The retailer, which has 863 shops and concessions around the world, said that its int'l strategy "had paid off with overseas sales helping pre-tax profits rise" 18.4% to £87M ($112.6M) in the year to April 29. Sales rose by 27.4% to £752M ($973.4M), with like-for-like sales up by 12.7%. Supergroup said that it would launch its first Superdry Sport standalone franchise store in Grenoble, France, in October and "planned to launch another four shops by Christmas." The move "is the latest example of retail players pushing into the booming athleisurewear market." Supergroup CEO Euan Sutherland said, "The growth predicted in the sports market is expected to exceed that of the mainline fashion market" (TELEGRAPH, 7/3).