Fashion chain Superdry has reported a steep fall in revenues across the first half of its financial year, although the firm’s boss says its turnaround plan is making “good progress”.
Revenues in the half-year to 26 October fell 11.3% to £367.8m, although the firm said the drop in sales had moderated in recent months.
It also said it had managed to boost profit margins by reducing the number of promotions it ran.
Chief executive Julian Dunkerton – who returned to the firm in April, after a lengthy campaign against the previous management – said: “We are making good progress with the start to our turnaround plan for Superdry, returning the business to its design led roots.
“There is good momentum in the business, and I remain confident of returning Superdry to sustainable long-term growth.”