THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Supergroup issues new profit warning after maths error

Supergroup, owner of the Superdry fashion chain, has warned that full-year profits will be less than expected due to mathematical errors and rising costs.

CITY & CORPORATE

Supergroup issues new profit warning after maths error

Supergroup, owner of the Superdry fashion chain, has warned that full-year profits will be less than expected due to mathematical errors and rising costs.

Supergroup said in a statement to the London Stock Exchange: "The group expects profit before tax for the full year to be approximately £43 million.

"There have been arithmetic errors in our forecast of the wholesale business amounting to some £2.5 million."

It also highlighted an additional £2 million shortfall due to the timing of pull-down of stock over the year-end period by its franchise and wholesale customers.

The group said the mix of sales through its various channels had impacted margins.  In addition, it said that increased operating costs and investment in the management team would impact profit by a further £2 million.

As retail sales were "in line with expectations",  Supergroup said the reasons for the latest profit downgrade would have "a minimal impact" on projections for 2013. A further update will be issued on 10 May as planned, it said.
 

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

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
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
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process