Supergroup (full-year earnings 3 July)
Supergroup's results were published in a short form on 29 June due to a theft from an employee that raised concerns external parties may have seen the figures in advance of the market. The firm published edited highlights, which showed that revenue rose 27% to £752 million for the full year to 29 April, while underlying pre-tax profit rose 18.4% to £87 million. E-commerce rose 35% while wholesale revenue rose 43%. It looks like Supergroup’s turnaround plan remains on track, as it seems to boost overseas expansion, but underlying gross margins fell 130 basis points to 60.2%.
The shares dip to £14 several times in 2017, but each incident has seen the buyers step in. However, the shares have been capped at £17, so while we are in a rising trend a major step-change will be at hand, in due course. Recent gains have found resistance at £16.32 and £16.63.