UK-based fashion brand and retailer Superdry has reported that its revenue for the fiscal year 2022 (FY22) grew by 8.0% to £600.7m ($732.37m) from the previous year.
During the 52-week period, the retailer’s store revenue was up by 59.8% to £224.5m from last year, while its wholesale revenue reached £222.8m, up by 4.2% from FY21.
Impacted by its shift back to physical trading and reduced promotional activity, Superdry’s e-commerce revenue dropped by 24.0% year-on-year (YoY).
The retailer also saw its full-price sales mix rise by 26% YoY, delivering an improvement of 590 basis points in the Retail gross margin.
For the fourth quarter (Q4) of FY22, Superdry reported £159.7m in revenue, up by 17% compared to the corresponding period a year earlier.
The company’s store and wholesale revenues increased by 203.0% and 2.7% respectively, while its e-commerce revenue declined by 21.5%.
Superdry CEO Julian Dunkerton said: “We continue to execute our strategy of returning the Superdry brand to a premium position and I am excited by the progress we are making.
“Despite the ongoing tough trading conditions and turmoil in the market, our focus on full-price trading will deliver a strong gross margin improvement for FY22.
“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver products that stand for what is important to them: quality, style and sustainability at great value.
“As we head into FY23, we remain cautious on the macroeconomic outlook and the impact of inflation, but are confident that our strategy is positioning the brand for future success.”
Superdry operates 220 physical stores and around 475 franchisees and licensees across more than 50 countries, employing more than 4,000 people worldwide.
Earlier this year, the company reported a 1.9% decline in revenue to £277.2m for the first half of FY22.