Superdry has issued a profit warning causing shares to plummet to an all time low following a tough retail market due to abnormally warmer weather this autumn.
Shares plummeted to around a fifth by 30p per share on Tuesday morning which is the lowest level since the retailer started trading thirteen years ago.
In the six months to the end of October retail sales fell by 13% due to the warmer weather and online shopping was also impacted as the group reduced spending on digital marketing.
Julian Dunkerton, founder and chief executive of Superdry, said, “Whilst we have seen modest signs of improvement through the recent spell of colder weather, current trading has remained challenging, and this is reflected in the weaker than expected business performance.”
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