Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Superdry Plc    SGP   GB00B60BD277


Delayed Quote. Delayed London Stock Exchange - 01/20 11:35:14 am
406 GBp   +1.50%
07:18aFestive cheer falls flat for some British retailers
01/16Festive cheer falls flat for some British retailers
01/15QUIZ online sales tumble 15% over tough Christmas period
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Superdry : Britain's Superdry sees profit wiped out as returning founder resets business

share with twitter share with LinkedIn share with facebook
share via e-mail
12/12/2019 | 06:31am EST
A man walks past a window display at a Superdry store in London

British fashion retailer Superdry's first half profit has been all but wiped out as its new leadership addresses what it regards as the missteps of the previous management with a renewed focus on full price sales.

The group, now led by co-founder and CEO Julian Dunkerton following a boardroom coup in April, cautioned on Thursday that its turnaround would take two to three years.

Echoing comments from rival Ted Baker, which warned on profit on Tuesday, Superdry noted considerable risk over the peak trading period, with "highly promotional and competitive" market conditions.

"This is against a backdrop of continuing macroeconomic uncertainty, particularly from the (Dec. 12) UK election and Brexit, and so whilst we have started the third quarter with encouraging trading, we remain cautious on the outlook for the full year," it said, forecasting a "low single digit" decline in second half revenue.

Shares in Superdry, which sells sweatshirts, hoodies and jackets adorned with random Japanese text, were down 4.4% at 1034 GMT, paring gains over the last year to 35%.

Reversing a previous strategy Dunkerton, also the group's biggest shareholder with an 18.5% stake, is concentrating on full price sales and reducing promotional activity. That hurt revenue but is helping profit margins to recover.

The group made an underlying pretax profit of 0.2 million pounds ($256,600) in the 26 weeks to Oct. 26 versus 12.9 million pounds in the same period last year.

Revenue fell 11% to 369.1 million pounds, though the decline moderated through the six months and subsequently into the peak trading period. It recorded its strongest online Black Friday day ever.

A total underlying gross margin increase of 250 basis points was offset by a 180 basis points foreign exchange hit and stock accounting changes of 80 basis points.

Dunkerton's strategy is to restore the Superdry brand to its design-led roots after the company issued a string of profit warnings under its previous management.

His initial focus has been on getting product ranges right and improving e-commerce. He has increased the number of products sold online and put more stock into stores.

He said stock options in large stores were 1,578 in September but would rise to 4,000 by September 2020.

"There is huge momentum now building, having a consistent full price message," he told Reuters.

Dunkerton has a contract as CEO until April 2021 but said he could stay longer.

"That's a minimum...I have no intention of leaving when it's up through a half done job, and as long as the company's happy with me I shall be staying," he said.

Superdry reported a statutory pretax loss of 4.2 million pounds, reflecting charges relating to accounting estimates for inventory and debt recoverability.

(Reporting by James Davey; editing by Sarah Young, Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
SUPERDRY PLC 1.50% 406 Delayed Quote.-20.56%
TED BAKER PLC -4.39% 317.6 Delayed Quote.-18.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SUPERDRY PLC
07:18aFestive cheer falls flat for some British retailers
01/16Festive cheer falls flat for some British retailers
01/15QUIZ online sales tumble 15% over tough Christmas period
01/14Boohoo finds silver lining in Britain's depressed retail market
01/13LONDON STOCK EXCHANGE : FTSE 100 climbs as U.S.-China trade deal nears; midcaps ..
01/10British bluechips dragged down by banks amid rate cut fears
01/10EUROPE : European shares ease after a three-day run; airlines zoom
01/10Festive cheer falls flat for some British retailers
01/10Superdry and Joules join UK retail Christmas casualties
01/10JD Sports sees profit at upper end of market view on overseas demand
More news
Financials (GBP)
Sales 2020 793 M
EBIT 2020 42,3 M
Net income 2020 22,3 M
Debt 2020 74,1 M
Yield 2020 1,68%
P/E ratio 2020 14,8x
P/E ratio 2021 9,07x
EV / Sales2020 0,51x
EV / Sales2021 0,39x
Capitalization 333 M
Duration : Period :
Superdry Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SUPERDRY PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 568,18  GBp
Last Close Price 400,00  GBp
Spread / Highest target 123%
Spread / Average Target 42,0%
Spread / Lowest Target 0,00%
EPS Revisions
Julian Marc Dunkerton Chief Executive Officer & Non-Executive Director
Peter Wodehouse Williams Chairman
Nicholas John Gresham Chief Financial Officer & Director
Helen A. Weir Senior Independent Non-Executive Director
Alastair Miller Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SUPERDRY PLC-20.56%427
KERING4.27%84 621
ROSS STORES1.08%42 233
HENNES & MAURITZ-2.89%32 168