Source - Alliance News

Superdry PLC on Thursday posted an increase annual revenue due to a rebound in sales at its physical stores.

Revenue in the financial year ended April 23 was up 8.0% at £600.7 million from £556.1 million the year before.

Store sales jumped 60% to £224.5 million from £140.5 million, rebounding after a 51% decline in the 2021 financial year. E-commerce, however, fell 24% to £153.4 million from £201.8 million, having advanced 33% in the 2021 financial year.

With Covid-restrictions being lifted, the amount of lost store days fell to 4% in the financial year 2022, down from 39% a year ago. In the last quarter ended April 2022, lost store days amounted to just 1%.

The Cheltenham, England-based clothing retailer remains cautious about its recently commenced financial year due to inflation, it said.

Chief Executive Julian Dunkerton added that the firm is ‘conscious of the cost-of-living pressures on consumers’.

Company shares were 5.4% lower at 147.20 pence each in London on Thursday.

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