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Superdry revenue down slightly in first half

Superdry saw its group revenue decline by 2.4% year-on-year in the first half of its financial year. In the 26 weeks to 23 October, store revenues… View Article

FASHION RETAIL NEWS UK

Superdry revenue down slightly in first half

Superdry saw its group revenue decline by 2.4% year-on-year in the first half of its financial year.

In the 26 weeks to 23 October, store revenues rose by 21.7% while online sales declined by 30%.

Superdry said there was an improvement in trading in retail channels across the final eight weeks of the period, much of which was seen in ecommerce.

Julian Dunkerton, founder and chief executive of Superdry, said: “Superdry is recovering well from the disruption of the Covid-19 pandemic and I am really pleased with the start to the autumn/winter 2021 season, despite the ongoing disruption around the world. Once the new range landed and we began trading against a comparable full price period, we saw an acceleration into positive two-year retail like-for-like growth.”

Superdry said a full-price performance seen throughout the summer translated into stronger overall performance going into the peak autumn months. It also revealed that it currently has no significant availability issues in its retail operations due to supply chain delays.

Looking ahead, Dunkerton said: “Our focus on full-price sales continues to deliver improvements in gross margin and I am pleased that we are ending the half with 10% fewer inventory units than last year. We are encouraged by the performance this strategy is starting to deliver, which gives me further confidence in the full year outlook.”

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