Superdry warns profit decline after poor Christmas sales
The British fashion distribution company has indicated that its commercial performance during discounts periods has not reached the expected 23 million pounds (29.9 million dollars).
Superdry, on alert. The British fashion distribution company has issued a profit warning after not reaching the expected results during its Black Friday campaign due to moderate consumer demand. The company has explicitly indicated that the commercial performance during discount periods has been below the expected 23 million pounds (29.9 million dollars).
“Everyone at Superdry continues to work intensively to deliver the turnaround of the business,” explained Julian Dunkerton, the chief executive officer of the company. “A key element of this is to focus on and return to full price sales and reduce promotional activity,” added the director who was voted back on to the company’s board last April.
The company is in the process of restructuring, after announcing in April its new roadmap, which goes involves discontinuing its children’s fashion line and ending the shoe distribution agreement with Pentland group.
commercial performance during discount periods has been below the expected 23 million pounds (29.9 million dollars)
The British company ended its first two quarters with losses of 4.7 million pounds (6.1 million dollars), compared to the revenue of 9.7 million pounds (12.8 million dollars) of the same period a year ago.
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