Superdry’s revenue was up 24 per cent in the nine weeks to December-end.
The British brand saw sustained demand over the Christmas period as sales at stores caught up to pre-pandemic levels. However Superdry expects to broadly break even this year compared with its earlier forecast for a profit since its wholesale segment underperformed amid higher uncertainty during the last quarter.
The retailer’s adjusted loss before tax widened further in the half year from the same previous period. Superdry doesn’t expect market conditions to become easier any time soon, but with a new financing package in place, and the brand in great health, it is approaching the year ahead with optimism.
Premium British fashion brand Superdry has products like apparel, fragrances, body sprays and body plus hair washes. The UK market represents around 50 per cent of Superdry’s weekly sales and the US around ten per cent. Despite the revenue increase, Superdry is cautious due to increased cost inflation and the worsening conflict in Ukraine, as operating margins are certain to come under pressure.
Inflation-pinched British consumers cut their shopping in December 2022 by the most in at least 25 years, dashing hopes of a Christmas boost for the country’s flagging retail sector.