THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Superdry issues profit warning

Fashion retailer Superdry has issued a profit warning following a weak performance in its wholesale and ecommerce channels in its fourth quarter. The retailer’s group revenue… View Article

FASHION

Superdry issues profit warning

Fashion retailer Superdry has issued a profit warning following a weak performance in its wholesale and ecommerce channels in its fourth quarter.

The retailer’s group revenue was down 4.5% in the 13 weeks to 27 April as global brand revenue dropped by 5.2%. Sales in its ecommerce and wholesale channels fell by 3.9% and 9.3% respectively.

In contrast, the performance in Superdry’s retail stores improved in the period with an uplift of 2.2%.

Superdry is now expecting its full year underlying pre-tax profit to be lower than analysts’ expectations. Group revenue was flat in the full year although group brand revenue was up 3.6%.

Last month, Superdry founder Julian Dunkerton narrowly won a shareholder vote to enable him to return to the business after he criticised the retailer’s strategy. This led to chief executive Euan Sutherland and other executive team members stepping down and Dunkerton taking over Sutherland’s role.

In the statement issued today, Superdry said Dunkerton had already identified immediate opportunities to “improve the efficiency and performance” of the business.

Dunkerton said his first priority is to “stabilise the situation”. He added: “There’s a lot to do, but after five weeks, I am more confident than ever that we can restore Superdry to being the design led business with strong brand identity I know it can be.

“All of us in the business are putting all our energy into getting the product ranges right and improving the ecommerce proposition, which are two important steps towards addressing Superdry’s recent weak performance.” 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference