Superdry shares (LON: SDRY) plummeted after the group posted a pre-tax loss of £166.9m amid the Coronavirus pandemic.
In the 52 weeks to 25 April, revenue fell by 19.2% to £704.4m whilst net cash increased by 2.2% to £36.7m.
The group has said it will not pay its full dividend this year.
Trading has slightly improved towards the end of the financial year when stores had reopened after lockdown and social distancing measures were in place.
Whilst stores and closed over lockdown and trading was hit, online sales did improve slightly.
Ongoing uncertainty means that the clothing retailer is not providing full-year guidance.
Julian Dunkerton, founder and chief executive, said: “As with all retailers, we have experienced significant disruption to our operations, and this has inevitably had an impact on our FY20 results, but I’m proud of how everyone in the business has stepped up during this exceptional time.”
“While our underlying profit has been impacted by trading performance during the year, including Covid-19 related store closures, I am particularly pleased by how strongly ecommerce has performed, with FY21 first quarter revenues nearly doubling year-on-year.”
“This has been complemented by our increased digital consumer engagement, which helped drive a stronger womenswear mix than we have ever seen before. I’m pleased that we have delivered a good increase in the full price mix, which is up 12pts year-on-year and has had a positive impact on gross margin,” he added.
The group remains uncertain about the upcoming year with impacts surrounding the pandemic.
“We remain cautious on the shape of the economic recovery, and the impact this may have on our ability to turnaround performance in line with our plan. Consequently, we recognise there is a material uncertainty, and are not providing formal guidance,” said the group
Superdry shares (LON: SDRY) plummeted 11.45% on Monday morning to 134,50 (0830GMT).
