Superdry PLC (LON:SDRY) said it was delaying the release of its full-year results after the return of founder Julian Dunkerton led to a boardroom exodus.
The retailer will post its annual results on July 10, instead of July 4 as previously planned.
READ: Superdry warns on profits as returning boss says it “will take time” for turnaround plan to bear fruit
The company said it needs more time to work out provisions for onerous leases and store write-downs as part of its store review as it grapples with recent management changes.
In May Superdry issued a profit warning as a result of weak wholesale and ecommerce sales. At the time, the group said it was reviewing its 1,179 stores and would make a provision for onerous leases and underperforming stores when the full-year results were announced.
Most of Superdry’s board, including Barker, chief executive Euan Sutherland and chairman Peter Bamford, stepped down in April after shareholders backed Dunkerton’s bid to return to the helm of the retailer to turn around the business after sluggish sales.
Dunkerton is currently interim chief executive of the company until it finds a permanent replacement for Sutherland.
In mid-morning trading, shares were little changed at 479p.