Superdry Plc – Half year report – 27 October 2018
Explanatory Notes to the Interim Financial Information (unaudited) (extract)
- Seasonality of operations
Due to the seasonal nature of the Retail segment, higher revenues and operating profits are usually expected in the second half of the year. The weighting of higher revenues in the second half of the year is a consequence of the brand’s strength in cooler weather categories, such as outerwear, which also carry higher average selling prices. Operating profits therefore benefit from operating cost leverage, particularly in the Group’s stores. Whole-sale seasonality is more evenly spread across the year.
In the financial period ended 28 April 2018, 46.1% of total revenues accumulated in the first half of the year, with 53.9% in the second half. This corresponded to 26.1% of underlying profit before tax in the first half of the year and 73.9% in the second half.