Superdry sales shrink by 11% in first half, losses widen

Superdry ends first half down. The British sportswear company, led again by its founder since October, has ended the first six months of its fiscal year with losses of 4.7 million pounds (6.1 million dollars), compared to the profit of 9.7 million pounds (12.7 million dollars) year-on-year.

The company’s sales also dropped in the period between April and October, the British company has reached a revenue of 369.1 million pounds (485.5 million dollars), down 10.9%. The company, which in October appointed its founder as chief executive officer, has reduced its revenue in all the channels where it operates. The group’s directly operated stores have shrunk their sales by 11.4% during the period, while multibrand has fallen by 10.3%.

Superdry, which is in the middle of a transformation process, has dropped its sales in all the markets where it is present. In the United Kingdom, the company has fallen by 9.7%, while in Europe the decline has been 8.9%. In the rest of the world, the company’s sales have fallen by 21.3%.

In April the group announced its new roadmap, which is shuttering its children’s fashion line and finishing the footwear distribution agreement with Pentland. Also, the company has added around 15% of new product to its collection and the results are expected to be seen facing the Christmas campaign.