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The global fashion business journal

17 Jul 201921:02

Superdry postpones presentation of results after launching profit warning

The British fashion company expects its 2019 profit to fall due to the complexity of its store network and recent changes in management.

28 Jun 2019 — 17:45
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Superdry postpones the presentation of its results after launching a 'profit warning'

 

Superdry postpones the presentation of 2019 results. The British fashion company has delayed the presentation of its annual results until July 10, when it was initially planned to present them on the 4th of that month.

 

The company carries out this postponement after launching a profit warning for its fiscal year 2019. The company will make a provision for rents and deterioration of its store network, which will affect its profit this year and the following one. Superdry has already agreed with its auditors to delay the preliminary presentation of its annual results in order to complete the process.

 

 

 

 

The company, in the hands of group's founder Julian Dunkerton, who returned to the company two months ago, warned in May that gross profit for the entire year would be lower than current market expectations after the company acknowledged the weakness of progress in the online and offline channels.

 

The British company closed 2018 with an increase in sales of 3.6%, to 1,736.1 million pounds (2,020 million euros), a growth rate of less than the 22% registered on the previous year.

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