Superdry sees increase in revenue against "challenging backdrop" as cold weather stays away
Source - SMW
Fashion brand Superdry reported an increase in its Global Brand revenue in the first half against "a challenging backdrop" as trading was impacted by unseasonably hot weather cutting into sales of its cold-weather clothing.
Revenue grew 3.1% in the 26-week period to 17 October 2018 to £414.6m.
The company said it had not yet seen a sustained period of seasonally typical weather, adding that its full-year profits were heavily influenced by its performance in the second half, led by cold-weather products with jackets and sweats accounting for 55-60% of autumn-winter sales.
"Superdry has made significant progress in the first half. We are six months into a product diversification and innovation programme and, as we said in the summer, it will take up to 18 months for the benefits to come through," said Euan Sutherland, Chief Executive Officer.
At 8:12am: (LON:SDRY) Superdry Plc share price was +8.75p at 865.25p