SuperDry PLC (LON:SDRY) said Wednesday that holiday sales drove double-digit gains while slumping first-half pre-tax profit sent shares lower in morning trading.
The mixed results threw cold water on three months of share gains, with the stock falling more than 3% to £19.74 on Wednesday morning.
For the 10 weeks ended January 6, which includes Christmas, the fashion retailer saw revenue rise 12.6% to £215.6mln compared with the corresponding period a year ago, with like-to-like retail growth of 4.7%.
READ: SuperGroup shares fall as half-year like-for-like retail sales slow and margins decline
E-commerce sales increased by nearly a third in the period, while retail stores saw sales growth of 3.1%.
For the six months ended October 28, SuperDry’s pre-tax profit fell 12.7% to £9.1mln due to fair value movement on forward exchange contracts compared to the same period a year ago.
Underlying profit in the first half rose 20.5% to £25.3mln, from £21mln the prior year.
The company, which changed its name to SuperDry PLC from SuperGroup PLC earlier this week, also announced an interim dividend boost of 19.3% to 9.3p for shareholders of record as of January 19, 2018.