The pandemic may only have affected the final period of Superdry's latest financial year, but its performance was “materially impacted” by Covid-19 disruption, the company said as it delivered its results on Monday.
Struggling fashion retailer Superdry had good news on Monday as it announced a new financing facility and that its trading in recent months has been better than it was expecting, even though it remains down.
Superdry is to take back control of its China operations. It will close its stores in the market but said China remains important and it's shifting its focus to the growth channels of online and wholesale.
Plunging store sales but a surge online were the big stories in Superdry's latest quarter and full year. It remains upbeat as recovery signs are being seen, even though store closures will delay its turnaround.
Superdry delivered plenty of negative numbers with its half-year results on Thursday but they'd largely been expected as the company is deep in a reset strategy and it said this is showing early signs of working.
Superdry sales may have fallen again in the first half, but the company seems to be on the right track, and full-price is becoming a bigger part of the mix as the firm works towards its new future vision.