Company
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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In a statement after the close on Tuesday, the company said incumbent CEO Euan Sutherland, chairman Peter Bamford, chief financial officer Ed Barker and remuneration committee chairman Penny Hughes had all resigned with immediate effect
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A bad day for sterling but a good day for blue-chip equities
At an emergency general meeting held at 11.30am on Tuesday, shareholders approved Dunkerton's return in a vote of 50.75% in favour and 49.25% against
Dunkerton and Boohoo chair Peter Williams have requisitioned a general meeting, where they will ask shareholders to vote them on to the Superdry board
Julian Dunkerton left Superdry last spring but wants shareholders to vote him back onto the board after a string of profit warnings
The Guardian quoted a spokeswoman for Superdry, who confirmed: “We have embarked on a cost transformation programme. As part of that, we have started a process of consultation with colleagues about how it will impact our central head office
Dunkerton and co-founder James Holder, who collectively control around 29% of the company’s shares, said they would put forth resolutions to re-appoint Dunkerton to the board as well as Peter Williams, the chairman of online fashion retaile
Superdry is particularly sensitive to the weather as jackets and hoodies make up the bulk of its annual sales
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The UK index of leading shares closed down over 79 points to 7,093, while the FTSE 250 lost over 274 points at 18,799
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Aside from the Bank of England's latest pronouncements, investors will have updates from the likes of Thomas Cook, Smith & Nephew, Compass Group and Superdry to digest on Thursday
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The week ahead includes updates from Thomas Cook, Superdry, Ryanair and Tate & Lyle, among others.
Former Nike executive Phil Dickinson will take up his new role at Superdry on Tuesday
Danielmeyer, formerly Tommy Hilfiger’s global head of womenswear, only joined the under-pressure fashion retailer in September last year at the same time as it launched a ‘fast-fashion’ range
The Swiss bank’s analysts said they see limited upside potential to market expectations even with Superdry's price/earnings having de-rated from 16x to 7.5x in the year-to-date
Asos’ profit warning on Monday panicked the whole sector but John Lewis’ buoyant weekly figures have given investors some hope
Some of the main news-driven risers and fallers in London on Wednesday...
Superdry posted a 49% drop in underlying pre-tax profit for the first half
The benchmark index also gets a boost from optimism over US-China trade talks
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Aside from the blue-chip tobacco firm, the day ahead will also bring updates from retailers Dixons Carphone and Superdry, plus US inflation numbers
“The brand has the flexibility and identity to truly capture the global online opportunity and should be doing much better than it is. In order for this to happen it is time for a strategic rethink.”
