Superdry hires advisers to help address cost base
Superdry has drafted in a firm of leading City advisers to help it reduce costs.
The move follows the retailer’s announcement in January that it had cut its full year adjusted pre-tax profit outlook to breakeven from a previously guided £10 million to £20 million.
According to Sky News, Superdry has hired Interpath Advisory to help address its cost base. It also said work is likely to encompass the retailer’s troubled wholesale business.
A spokesperson told Sky News: “While Superdry has seen strong store and online trading and the brand continues to resonate with consumers, these are challenging market conditions for all brands in the fashion sector.
“We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today’s much-changed retail environment, and ensure we have the right cost base and structure in place for future success.”
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