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

SUPERDRY PLC

(SGP)
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Fashion retailer Superdry's stronger than expected sales boosts shares

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08/10/2020 | 02:16am EDT
A woman walks past a window display at a Superdry store in London

British fashion retailer Superdry traded ahead of expectations in the latest quarter and has boosted its liquidity with a new 70 million pound ($92 million) lending facility to get it through the Covid-19 crisis, sending its shares higher.

The stock was up 15% at 0748 GMT, paring 2020 losses to 73%.

Superdry which sells sweatshirts, hoodies and jackets adorned with Japanese text, said that while trading in the 13 weeks to July 25, its fiscal first quarter, was materially impacted by the crisis, the 24.1% fall in group revenue was better than its initial expectations.

The group's stores were shuttered in the coronavirus lockdown but some 95% have now reopened.

First-quarter store revenue fell 58.1%, while wholesale revenue was down 31%. However, E-commerce made up some of the shortfall with revenue growth of 93.2%.

"Trading in stores is much better than we had expected and the growth delivered in E-commerce ... in Q1 is very much ahead of the +7% in Q4," analysts at Liberum said.

Last month, bigger rival Next raised its profit forecast after its quarterly sales fall was also less than feared as Britain emerged from lockdown.

Superdry said the asset-backed lending facility was agreed with its existing lenders HSBC and BNP Paribas and runs to January 2023.

As at August 6, Superdry had net cash of 57.8 million pounds on its balance sheet.

"The actions we have taken to date have greatly strengthened our cash position, which together with our new ABL Facility, give us the flexibility to execute our current plans and to secure our recovery," said co-founder and CEO Julian Dunkerton who retook control of the group in April last year.

(Reporting by James Davey, editing by Louise Heavens/Kate Holton/Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
BNP PARIBAS 1.51% 32.845 Real-time Quote.-38.69%
HSBC HOLDINGS PLC 0.30% 289.1005 Delayed Quote.-51.34%
NEXT PLC 1.75% 6038 Delayed Quote.-15.45%
SUPERDRY PLC 9.65% 145.5018 Delayed Quote.-73.64%
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Financials
Sales 2020 708 M 908 M 908 M
Net income 2020 -12,0 M -15,4 M -15,4 M
Net cash 2020 40,2 M 51,5 M 51,5 M
P/E ratio 2020 -9,09x
Yield 2020 1,51%
Capitalization 109 M 139 M 140 M
EV / Sales 2020 0,10x
EV / Sales 2021 0,10x
Nbr of Employees 4 800
Free-Float 71,1%
Chart SUPERDRY PLC
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Technical analysis trends SUPERDRY PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 203,00 GBX
Last Close Price 132,70 GBX
Spread / Highest target 201%
Spread / Average Target 53,0%
Spread / Lowest Target -35,9%
EPS Revisions
Managers
NameTitle
Julian Marc Dunkerton Chief Executive Officer & Non-Executive Director
Peter Wodehouse Williams Chairman
Nicholas John Gresham Chief Financial Officer & Executive Director
Helen A. Weir Senior Independent Non-Executive Director
Alastair Miller Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SUPERDRY PLC-73.64%139
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KERING SA-1.44%84 614
FAST RETAILING CO., LTD.-0.20%63 256
ROSS STORES, INC.-22.33%32 190
HENNES & MAURITZ AB-21.67%27 813