Superdry Shares Leap as UK Fashion Brand Returns to Profit



Superdry Plc shares jumped as the UK fashion brand returned to profit after pandemic-induced losses.

The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rose as much as 13 percent in London.

The return to profit “marks an inflexion point that gives confidence in its positive long-term trajectory,” Wayne Brown, an analyst at Liberum, wrote in a note to clients. The gain in profitability “is a clear sign of brand health.”

Still, store visits to Superdry haven’t yet recovered to pre-Covid levels and the cost-of-living crisis is hitting consumer spending. Many apparel retailers are struggling as shoppers cut back on non-essential purchases.

“These are exceptional times for retail and for the economy more generally, and like all brands we’re having to work harder than ever to drive performance,” said chief executive Julian Dunkerton.

Superdry needs to refinance an asset-backed lending facility due at the end of January and said talks with lenders have been going well.

By Katie Linsell

Learn more:

Why the Retail Renaissance Can’t Last Forever

Rents plummeted during the pandemic, allowing brands to open thousands of new stores this year. But on the hottest streets, the deals are over and bidding wars have begun.



Credit: Source link

Discover

19,463FansLike
232,230FollowersFollow
77,487FollowersFollow
13,887FollowersFollow
2,920SubscribersSubscribe

Sponsor

spot_imgspot_img

Latest

Describes A Nightmarish Experience, Taylor Swift Casting Call For The Les Miserables Film

When Taylor Swift was trying out for a part in the film adaption of Les Miserables in 2012, she was up against one...

Everything You Need To Know About Fashion Month Spring 2023

It’s impossible to deny that the excitement surrounding fashion month isn’t what it used to be, but boy are brands trying and while...

The Best Hair Loss Treatment for Men: Our Top 8 Picks in 2022

We have some good news and bad news. If we start with the bad, hair loss affects around 30 percent of the worldwide...

9 Black Friday Tricks to Scoring the Best Prices

“The holiday shopping season took off earlier than ever with doorbuster-like sales launching in mid October and rolling right into November well before...

Mayor Andre Dickens Announces $3.5 million for Atlanta Small Businesses and Property Owners

Mayor Andre Dickens Announces $3.5 million Grant Program to Assist Atlanta Small Businesses and Property Owners Mayor Andre Dickens announced the launch of a...
en English
X