Superdry woes continue as it flags going concern doubts January 19, 2021 Embattled retailer Superdry has flagged going concern doubts after lockdown took another hit to its revenue. Superdry’s underlying losses before tax widened to £10.6m from £2.3m in the same period the previous year. Superdry’s share price plunged more than 11 per cent to 213.40p this morning. It came as revenue plunged 23.4 per cent to [...]
Majority of Brits sceptical of Black Friday offers, survey shows November 13, 2020 A huge majority of Brits are sceptical about Black Friday offers, believing many of the discounts are too good to be true, the latest research showed in the run up to the annual sales day. Black Friday has become one of the biggest shopping days of the year, and will be of particular importance to [...]
Superdry pins hopes on Black Friday sales during lockdown November 5, 2020 Superdry is cutting prices and targeting strong online Black Friday sales while its stores are closed during the coronavirus lockdown in England. The fashion retailer, which today reported that total revenue declined 23.3 per cent in the first half of the year, said it is focused on boosting ecommerce sales on Black Friday. It has [...]
Superdry finance chief quits after 16 months October 16, 2020 Superdry has announced that its chief financial officer has stepped down after just 16 months in the role. The fashion brand’s share price dropped more than four per cent this morning after it announced that Nick Gresham had left the company with immediate effect. Superdry, which said Gresham had decided to leave the firm, has [...]
Superdry loss widens as pandemic hits turnaround plan September 21, 2020 Superdry today reported deepening losses for the full year as the outbreak of coronavirus took its toll on the fashion chain’s turnaround strategy. The figures Superdry posted revenue of £704.4m in the 52 weeks to 25 April, down 19.2 per cent. Statutory loss before tax widened from £89.3m to £166.9m. Net cash ticked up 2.2 [...]
Saga launches £150m raise as former owner returns September 10, 2020 Cruise and insurance firm Saga today launched a £150m capital raise this morning as the company reported a £55.5m loss for the first half of 2020. As part of the deal, former boss Roger de Haan will return to the company his father founded as non-executive chairman. He will invest up to £100m into the [...]
Superdry secures new lending facility as coronavirus hits revenue August 10, 2020 Superdry has secured a new financing arrangement with its lenders as the designer clothing brand seeks to shore up its financial position amid ongoing disruption from the coronavirus pandemic. In a trading update, the firm said it had agreed a new £70m asset backed lending facility with HSBC and BNPP, extending the term until January [...]
Superdry pulls out of mainland China store venture with expected £6m write off June 18, 2020 Superdry has announced it will take back control of its branded franchise stores in China, effectively pulling its business out of the country for now at a £6m writedown. The clothing retailer said it has reached “an amicable agreement” with local partner Trendy International to exit their joint venture, leaving Superdry “free to determine how [...]
High street suffers biggest ever decline in footfall as Brits obey lockdown May 11, 2020 The UK high street suffered its greatest ever decline in footfall last month as Brits steered clear of shops during the coronavirus lockdown. Retailers were hit with an “unprecedented” 80 per cent plunge in footfall in April, with high streets and shopping centres the worst affected. Retail parks were the most resilient thanks to the [...]
Coronavirus: Superdry suspends dividend and delays full-year results May 7, 2020 Superdry suspended its dividend and delayed its full-year results this morning as the retailer announced a dive in revenue due to the impact of coronavirus and the brand’s shift away from discounting. The clothing brand said its full-year results, which were due to be published on 9 July, will be postponed by five to eight [...]