Superdry news and archive

Superdry reports drop in full-year revenue, but returns to growth in Q4

Superdry has reported a 21 percent drop in full-year revenue as Covid-19 continued to impact the business, but said it could “clearly see the light at the end of the tunnel” as it returned to growth in Q4. The British fashion retailer said its revenue in the 12 months to April 24 2021 was 556.6 million pounds compared to 704.4 million pounds a...

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Superdry names former Helly Hansen CEO as new chair

Superdry has appointed the former CEO of Norwegian outerwear retailer Helly Hansen as its new chair. Sjölander was at the helm of Helly Hansen between 2007 to 2015, during which time he oversaw its transition from a business focusing on local Scandinavian markets to a globally recognised brand. He has also spent 13 years at Nike across a number...

Fashion

Superdry brings forward organic cotton targets by five years

Superdry has brought forward its organic cotton targets by five years. That means the British fashion retailer now aims for all of its pure cotton garments to be produced entirely from organic cotton by 2025. By that point, 65 percent of all garments that contain any amount of cotton will be derived from organic cotton sources. The target is...

BusinessFeatured

Superdry losses widen as lockdown hits sales

Superdry has reported widening losses for the first half of the year as lockdowns took their toll on revenue. For the six months to 24 October 2020, underlying loss before tax at the British fashion retailer widened to 10.6 million pounds compared to 2.3 million pounds last year. Revenue fell by 23.4 percent to 282.7 million pounds in the period...

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Superdry: Dunkerton named permanent CEO, chairman to step down

Superdry has announced a number of changes to its executive management team as part of the company’s broader brand reset. Firstly, CEO and co-founder Julian Dunkerton, who returned to the helm of the company last year in a contentious move that sparked mass board resignations, has been appointed to the role on a permanent basis. His interim...

BusinessFeatured

Superdry H1 revenues fall as Covid hits store footfall

Superdry has reported a drop in revenue for the first half of the year, slightly offset by a jump in e-commerce sales, in what has been a tough year for physical retail. For the six months to 24 October, total revenue fell 23.3 percent compared to the same period last year, comprising a 24.1 percent drop in the first quarter and a slightly...

People

Superdry names Benedict Smith new interim CFO

Superdry has appointed Benedict Smith as interim chief financial officer (CFO) following the departure of previous CFO Nick Gresham last month. Benedict has 18 years of experience in the CFO position at a range of companies, most recently at media group Dennis Publishing Group, and previously at Harrods and Hunter Boots. He is also currently a...

People

Superdry CFO Nick Gresham exits

Superdry chief financial officer Nick Gresham has stepped down with immediate effect. The retail veteran joined the British retailer in June 2019, in the midst of its radical transformation strategy kicked off with the contentious return of co-founder Julian Dunkerton to the helm of the company after leaving in 2018. Gresham was brought in to...

BusinessFeatured

Covid-19 pandemic further hits Superdry’s revenue and profit

Group revenue at Superdry fell by 19.2 percent year-on-year to 704.4 million pounds (904.3 million dollars), which the company said, was driven by a decline in both divisions, with retail declining 18.2 percent and wholesale declining by 20.7 percent. The group’s statutory loss after tax for the year was 143.4 million pounds compared to a 101.7...

BusinessFeatured

Superdry Q1 trading better than expected, secures new financing facility

Superdry has reported better than expected trading for the first quarter of the year despite a drop in sales and has secured a new 70 million pound financing facility to help it ride out the pandemic. The British brand agreed on the new Asset Backed Lending Facility (ABL Facility) with its existing lenders, HSBC and BNPP. It will extend until...

Business

Hedge fund buys Superdry stake, cites confidence in turnaround strategy

Hedge fund Gatemore Capital Management has bought a 3.37 percent stake in British fashion retailer Superdry, saying it has confidence in CEO and founder Julian Dunkerton’s turnaround strategy. “Superdry has shown strong resilience despite a challenging trading environment in recent months, and we are confident the business is poised to benefit...

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Superdry exits mainland China store venture

Superdry has announced it is taking back full control of the brand in mainland China following a review of its long-term business plan for its operations in the region. The British fashion retailer said it had reached an “amicable agreement” with its current local partner Trendy International to exit their joint venture which was formed in 2016...