Superdry reports disappointing half year

Superdry signs with Centric Software

Superdry has reported a fall in its group revenues as well as an underlying loss for the half-year to October 24th. Sales were down by 23.4 per cent at £282.7 million from £369.1 million for the same period in 2019 – largely attributed by the business to lockdowns as well as capacity restrictions in stores when they were able to be open.

Online sales had risen by 49.8 per cent whereas store sales had fallen by 44.8 per cent.

Founder & CEO Julian Dunkerton commented: “Covid-19 has brought substantial challenges to Superdry, as with many other brands, and this has continued through the first half and into the second in our key markets.”

He added that the brand remained focused on its reset admitting that whilst progress was being made that it will take for the benefits of its focus to be reflected in its results.

“With Silvana Bonello joining our team as chief operating officer, we are well on the way to having the right leadership team in place to see us through the current, difficult environment, oversee the delivery of our strategy, and return the brand to long-term, sustainable growth once the pandemic recedes.”

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