- Angela Gonzalez-Rodriguez |
Superdry’s stock lost over 11 percent after posting week quarterly sales. The fashion company said its store sales fell by 6 percent to 86.1 million pounds in the 16 weeks to 28 April 2018. The British fashion retailer recorded 91.6 million pounds in sales during the comparable period the year before.
On the upside, Superdry saw online sales jump by 18.2 percent to 39.7 million pounds.
Superdry PLC (LON:SDRY) said to have suffered the consequences of “snow disruption in key markets”. However, added the retailer, online sales jumped as shoppers remained stuck indoors.
In a pre-close trading statement, the FTSE 250-listed firm said its store sales fell by 6 percent to 6.1 million pounds during the period. The previous year’s e-commerce contributed 91.6 million pounds.
The company has joined several retailers’ concern regarding the pressure to maintain revenue level, as well as pointed out the consequences of snow disruption in key markets and lower year-on-year average temperatures at the start of the Spring/Summer season.
Overall group revenue rose by 12.4 percent to 254.2 million pounds in the fourth quarter, with full-year group revenue up 16 percent to 872.0 million pounds.
Superdry now expects its pre-tax profit to come in at something between 96.5 million pounds and 97.5 million pounds “representing another year of double-digit profit growth.”
“While the consumer environment remains challenging, we are confident that Superdry's reputation for quality, design detail and strong value for money, underpinned by our continued investment in the business, leaves us well placed,” said Euan Sutherland, chief executive officer.
Looking ahead, Sutherland advanced that “We remain focused on the growth opportunities ahead and confident in the quality of sustainable earnings growth we can deliver over the long-term.”