Fashion retailer Superdry has posted results detailing the impact of the pandemic on its first half performance and the build-up to Christmas, but said progress was being made on its brand reset and its influencer-led digital marketing strategy.
In the 26-week period, revenue declined 23.4 per cent to £282.7 million which Superdry said reflected Covid-19 effects, with 23 per cent owned store trading days lost due to lockdown restrictions and the continued impact of social distancing on footfall even when open.
However, the group's ecommerce performance was up 49.8 per cent year on year and partially offset lost store sales, which were down 44.8 per cent, as consumers moved online. The business made an underlying loss before tax of £10.6m, widened from £2.3m in the equivalent 2019 period, driven by the trading disruption.
Despite the difficult financial performance, Superdry stated that the momentum of its brand reset continued, with its Autumn/Winter 20 (AW20) range fully launched across all channels, with key marketing campaigns said to be driving record levels of engagement.
Sustainability is also increasingly embedded in the brand with 38 per cent of A/W20 revenues from organic cotton, recyclable and low-impact material product, and all of AW20 padded outerwear jackets using recycled materials.