In an update for the four months of its current financial year through Aug. 18, Superdry said that its revenues were up by just 1.9 percent from the year-ago period, and they were still 29.6 percent below the level of the comparable 2019 period. Sales through the company’s own stores were 33.1 percent higher than a year ago, with increases of 76 percent in the U.K. and 169 percent in the U.S. partly offset by a drop of 10 percent in the European Union. Revenues from Superdry’s own e-commerce, which experienced strong growth last year as an alternative to physical shopping, were 34.4 percent lower than a year ago, although they generated a higher gross margin and showed an increase of 8.2 percent from two years ago. Wholesale revenues rose by 12.7 percent as compared to last year, and they are expected to continue their recovery. For the financial year ended on April 24, Superdry suffered a pre-tax loss of £36.7 million (€42.9m-$50.5m) on 21.1 percent lower revenues of £556.1 million (€651.0m-$765.7m), with the gross margin declining by 0.9 percentage points to 52.7 percent.

Topics