Superdry has recorded an encouraging start to AW21, helping it to make continued gross margin gains.

As per a Fashion Network report, the company’s revenues in the first half of the year (H1) declined by 2.4per cent year-on-year (Y-o-Y). The revenues declined by 25.3 per cent compared to the same period two years ago (2Y-o-Y). In the most recent eight weeks, the fall was 8.8 per cent on a one-year basis.

The company’s store revenues increased by 21.7 per cent Y-o-Y, but declined by 34.5 per cent 2 Y-o-Y. Online revenue declined by 30 per cent on a one-year basis as consumers gravitated back to physical shopping. However, online revenue rose by 7.6 per cent 2Y-o-Y. And wholesale revenue increased by 1.2 per cent Y-o-Y, but declined by 28.3 per cent 2Y-o-Y.

In the most recent eight-week period, revenue through stores rose by 2.5 per cent Y-o-Y but fell 28.6 per cent 2Y-o-Y. Online revenue declined by 20 per cent Y-o-Y but rose by 6.6 per cent 2Y-o-Y.

The company explained its recent performance further saying the improvement in trading in its retail channels across the eight-week period has been encouraging, as it launched the AW21 collection. The full-price performance seen through the Summer has translated into stronger overall performance going into the peak Autumn months. Its core categories are resonating well, with AW21 jackets particularly strong.