Superdry has announced its preliminary results for the fiscal year to April 30, 2022 (FY22), reporting adjusted profit before tax of £21.9m (€25.0 million), up from a loss of £12.6 million (€14.4 million) in the previous year. Total revenues increased 9.6 percent to £609.6 million (€694.2 million) year-on-year, driven by the reopening of its store estate due to the easing and lifting of pandemic-related restrictions in key markets. The gross margin improved 350 basis points year-on-year to 56.2 percent. In more recent trading, revenues for the 22 weeks to Oct. 1, 2022, were up 7 percent year-over-year. For FY23, the British retailer remains cautious and expects its adjusted profit before tax to drop to between £10 million and £20 million. During the year, Deloitte LLP advised Superdry that it intended to step down as its auditor after completing the audit of the group’s results for FY22. The company’s Audit Committee has therefore initiated a process to find a new auditor. Superdry will hold its AGM on Oct. 31 at its head office in Cheltenham. Non-executive director Faisal Galaria has announced that he will step down at that AGM.

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