LONDON (dpa-AFX) - Superdry plc (SDRY.L, SEPGF.PK, SEPGY.PK) reported that its Group revenue declined by 15.8 percent for the 10 week period from 27 October 2019 to 4 January 2020. Wholesale revenue declined 16.9 percent, impacted by certain timing issues.
Julian Dunkerton, CEO, said: 'We halved the proportion of discounted sales over our peak trading period, benefitting both our margins and the Superdry brand. However this adversely affected our sales during the peak trading period given the level of promotional activity in the market.'
Superdry plc said the benefit of strong gross margins and cost initiatives will not fully offset the profit impact of the aggregate shortfall in sales. Taking into account the revised sales expectations for the balance of the financial year, the Group now projects underlying profit before tax to be in the range of break even to 10 million pounds.
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