Home Business News Superdry issues profit warning amid tough retail environment

Superdry issues profit warning amid tough retail environment

by LLB Reporter
15th Oct 18 8:04 am

Superdry reported today that profits for its current financial year will be £10m less than it originally expected.

Warm weather in September and the first half of October has “significantly affected” demand for its autumn and winter products, it said.

Euan Sutherland, Chief Executive Officer of Superdry, said: “Superdry is a strong brand with significant growth opportunities, backed by robust operational capabilities, but we are not immune to the challenges presented by this extraordinary period of unseasonably hot weather.

“We are well prepared for peak trading, but the second half of financial year 2019 presents both risks and opportunities.

“We continue to focus on delivering efficiencies and cost savings to meet the current challenges and have confidence in our strategy for growth and so are accelerating investments in our future. There are significant opportunities ahead for Superdry in terms of geographical market expansion, category extensions and growth and the ability to leverage its multi-channel operating model in a digital world to deliver to customers in whichever way suits them best.”

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