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British fashion retailer Superdry shares jumped more than 12 percent in morning trading after it announced its second special dividend in two years because of “strong cash generation”.
The Cheltenham-based retailer also posted double-digit growth in full-year revenue on strong online sales. E-commerce revenue jumped 25.8 per cent for the full-year, helping the company post a 9.2 per cent rise in retail revenue.
Euan Sutherland, CEO of Superdry, added: “Our focus remains on executing our growth strategy and realising the potential we have identified across products, geographies and channels.”
“Whilst the consumer environment continues to be challenging, the Board remain confident that Superdry is a uniquely advantaged, highly cash-generative business that will continue to deliver sustainable growth for our investors. This confidence is demonstrated through our second special dividend in two years.”