Superdry sinks further underwater despite RBC upgrade
The jackets-maker warned last week that underlying profits come in anywhere between zero and £10mln
Company
Superdry PLC
LON:SDRY
SuperDry (previously SuperGroup PLC) is a distinctive branded UK fashion retailer offering quality clothing and accessories. It operates a multi-channel business through a combination of Cult and Superdry standalone stores, Superdry concessions, e-Commerce and its UK and International Wholesale operations. The business was founded in 1985 and has since been developed to design and sell a wide range of premium men’s and women’s clothing under its flagship brand, Superdry, together with other own brands and a number of third-party products which are sold in its Cult stores. Superdry offers an international brand proposition targeted at discerning customers who are looking for stylish clothing that is uniquely designed and well made. SuperGroup currently has 59 standalone Cult and Superdry retail stores, 69 concessions and a large number of Wholesale relationships. Superdry is sold in approximately 70 countries worldwide via its websites, and in 36 overseas countries through a well established network of distributors, licensees,agents and franchisees.
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City analysts and Twitter users agree that Superdry has problems
With the retailer trending on Twitter, there was a stream of useful feedback for founder Julian Dunkerton
Superdry hit by 'unprecedented' price cutting on high street
"Our disciplined plan to reinvigorate the brand and return Superdry to sustainable long-term growth is on track"
Superdry nervous to face highly promotional and competitive high street over Christmas
The clothing brand booked a £4.2mln loss before tax in the six months to 26 October, as founder Julian Dunkerton began a strategy reset to keep price tags intact and grow margins
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FTSE 100 ends modestly lower as late rally curtailed; sterling still resillient
At the close, the UK blue-chip index was down 5.76 points, or 0.1% at 7,233.90, have fallen back from a session peak of 7,255.73
Superdry full-price strategy hits sales but profit margins surge
The intact price tags have expectedly hit half-year group revenue, which dropped 11% year-on-year to £368mln, although store gross margin was up
Superdry founder Julian Dunkerton holds onto CEO role, for now
His departure, which saw him walk away from the board in 2018, was blamed on a “fundamental disagreement” about design and expansion strategy
Superdry interim CFO Nick Gresham takes up role permanently
The news comes after founder Julian Dunkerton returned to the retailer in April following a six-month boardroom battle that saw most of its directors leave.
Ted Baker and Superdry are 'not irrelevant' brands and Morgan Stanley sees value
While the shift to online continues to pose challenges for traditional retailers, neither Ted Baker nor Superdry is burdened by onerous property leases
Superdry swings to a massive loss as it writes down value of retail estate
Superdry has written down the value of its stores by £42.6mln, while it has taken an £86.9mln onerous lease provision charge
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FTSE 100 closes lower as traders mull Fed testimony
The UK's premier share index finished down over five points lower at 7,530,
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Barratt leads busy Wednesday for company news, UK GDP and Fed minutes dominate macro
The mid-week schedule also includes results and updates from a collection of mid-cap firms including SuperDry, Wetherspoons and Dunelm
Investments and investor services
FTSE 100 closes a tad lower as traders are not sure which way to jump
The UK's premier share index finished nearly four points lower at 7,549
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Barratt Developments and Bovis Homes to provide main building bricks in coming week
Aside from the two housebuilders, corporate updates in the coming week will also be delivered by retailers Ocado, Superdry and Dunelm
Superdry postpones annual results after profit warning and boardroom exodus
The retailer will post its annual results on July 10, instead of July 4 as previously planned.
Superdry appoints interim CFO after founder's return sparks boardroom mass exodus
Liberum analysts raised their recommendation on Superdry to ‘buy’ from ‘hold’ and lifted its target price on the shares to 600p from 500p.
Superdry warns on profits as returning boss says it “will take time” for turnaround plan to bear fruit
Julian Dunkerton was only re-elected five weeks ago, but he has already identified a number of "immediate opportunities" to re-energise the company he founded
Investments and investor services
FTSE 100 closes in the red as markets sink on growing trade war fears
In Europe, the German DAX tanked 206 points, while the French CAC 40 is down around 104
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BT Group will be in City spotlight on busiest day of the short week
Thursday's preview includes BT Group, Superdry, Morrisons, Barratt Developments, and RSA Insurance.
Will Julian Dunkerton prove to be the UK’s answer to Steve Jobs?
Nobody is suggesting that Superdry will go on to be the biggest company in the world, but can its founder’s return signal a reversal in fortunes?