Superdry revenues fall

Superdry revenues are down 1.9% as it continues to suffer amid the pandemic.

Losses before tax narrowed from £10.6m to £2.8m whilst statutory pre-tax profit increased to £4m.

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The group is expected to achieve expectations for the full-year. The retailer ended the half-year with £3.9m net debt. The group has started to unwind a £10m repayment in debt.

“In line with our full-price strategy, we have not held an end of season sale in our stores and, over the past 11-weeks, have seen a +4.1% gross margin improvement compared to two years ago,” the company said in a statement.

“Our performance over the peak trading period has given us confidence that we will achieve current market expectations for FY22 adjusted PBT.”

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