Superdry shares plunged more than a third today after the fashion chain warned on profits for the second time in less than three months.
Shares in faux-Japanese fashion brand Superdry fell by 20% after the company said its profits could fall dramatically because of the warm weather and broad market uncertainty https://t.co/vLWGNX4F9Q pic.twitter.com/Ympq49efHY
— fastFT (@fastFT) December 12, 2018
Blaming unusually warm weather for .the slump, Superdry said a “difficult trading period” had knocked £11m off profit last month and it expected to take another hit in December if trading conditions did not improve.
It said its underlying profit before tax could almost half to between £55m and £70m in the year ending April 2019, compared with the £97m made in 2017-18.
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