Superdry has warned that its profits have been impacted by the unseasonably warmer weather this Autumn, with sales for the half year to 28th October ’23 down by 13 per cent year on year. The announcement saw its share price plummet to an all-time low of 28p before recovering to 35p. The business had posted a £150m loss in its last full year results.
Online sales had fallen during the six-month period, as had its wholesale revenues. Superdry attributed the former to reduced spend on digital marketing, and the latter following Superdry’s exit from the US market.
Retail pundits say that the business remains without a clear market proposition, having lost its popularity amongst younger generations who view it as a brand for the middle-aged.
Julian Dunkerton, founder and CEO said: “The unseasonal weather through the early Autumn led to a delayed uptake of our autumn-winter range and this impacted sales in the first half of the year. While we have seen modest signs of improvement through the recent spell of colder weather, current trading has remained challenging, and this is reflected in the weaker than expected performance of the business”.
Share