Superdry anticipates a significant downturn in sales following its strategic exit from the London Stock Exchange, marking a challenging period for the brand.
- The fashion retailer, embroiled in financial strain, forecasts revenue to fall between £350m and £400m by April 2025.
- Annual sales have plummeted from £622.5m to £488.6m, amidst slight improvements in pre-tax losses.
- Superdry has undergone a workforce reduction of over 12% as part of its turnaround strategy.
- Founder Julian Dunkerton remains optimistic about revitalising the brand’s image and relevance.
Superdry anticipates a significant downturn in sales following its strategic exit from the London Stock Exchange, marking a challenging period for the brand. Having delisted in July after receiving the necessary approvals, Superdry’s decision was part of a larger restructuring plan aimed at avoiding insolvency. This move allows the company to focus on its turnaround without the pressures of the public market.
The fashion retailer, embroiled in financial strain, forecasts revenue to fall between £350m and £400m by April 2025. The previous year saw a drop in sales from £622.5m to £488.6m, further emphasising the company’s ongoing struggles.
Despite the sales downturn, Superdry reported a slight improvement in pre-tax losses, which decreased from £78.5m to £65.2m. This indicates some positive effects of the company’s restructuring efforts, even as it navigates difficult financial terrain.
Superdry has undergone a workforce reduction of over 12% as part of its turnaround strategy. The headcount was reduced to 2,263 roles, a significant change designed to cut costs and streamline operations.
Founder Julian Dunkerton remains optimistic about revitalising the brand’s image and relevance. He expressed confidence that the company, viewed by some as a “dad brand”, will regain its appeal and importance in the fashion industry.
Superdry navigates financial challenges with strategic changes and a focus on reviving its brand appeal.
