SuperDry PLC (LON:SDRY) co-founder Julian Dunkerton could return to the fashion retailer he left in March to help halt its decline, the entrepreneur told the Sunday Times newspaper.
Dunkerton said he had left the brand to focus on his other businesses in March after he “felt a change of strategy” at SuperDry and “didn’t want to be part of that”. However, he told the Sunday Times that he “just can’t sit back and watch 30 years of my life be gently eroded.”
READ: Superdry warns hot weather, FX costs will hurt full-year results
SuperDry, which began as a market stall more than 30 years ago, last week warned full year profits would be £10mln lower than the prior year due to the warmer-than-usual summer across the UK, continental Europe and the east coast of the US. The profit warning sent shares down by more than 20% last week.
Dunkerton also slammed the retailer’s move to cut its product lines when many competitors were doing the opposite. He also said that he believes the retailer is on the “completely wrong path” after “probably the most disastrous eight months you could imagine”.
SuperDry shares, which have fallen by around two thirds in 2018, were flat at 733.0p in mid-afternoon trade.