Shares also tumbled in the trading today
Shares in Superdry tumbled 11 per cent in early trading today after it announced that it expects 2018 full-year gross margins to decline. The company has blamed “snow disruption in key markets and lower year-on-year average temperatures at the start of the spring/summer season” for the weak trading.
Group revenue for 2018 was up 16 per cent but for the 2019 financial year it said it was targeting “high single-digit statutory revenue growth” as it manages “ongoing challenging conditions in stores”.
“While the consumer environment remains challenging, we are confident that Superdry’s reputation for quality, design detail and strong value for money, underpinned by our continued investment in the business, leaves us well placed,” Chief Executive Euan Sutherland said.
“We remain focused on the growth opportunities ahead and confident in the quality of sustainable earnings growth we can deliver over the long-term.”