Superdry: in a spin after profit warning
(CercleFinance.com) - The Superdry share is in a spin on Friday, tumbling over 16%, after the group announced a profit warning, largely due to its performance at the end of 2019.
Thus, Superdry has announced that it now expects underlying pre-tax profit for its fiscal year to April that is between break-even and 10 million pounds. Its revenues also fell 15.8% in the 10 weeks to 4 January. The reason for this is that sales were impacted by unprecedented levels of special offers from competitors, coupled with weak demand after Christmas.
In detail, over the period in question, sales fell in all the brand's channels: -18.5% in stores, -9.3% on the net and -16.9% for wholesale.
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