Superdry boss upbeat about a post-pandemic recovery despite fears for the fashion firm’s future
The boss of Superdry has insisted he is optimistic about a post-pandemic recovery on Britain’s high streets after his firm warned about its ability to continue trading.
In a bleak update that sent shares tumbling, the fashion retailer posted an £18.9million loss in the 26 weeks to October 24 and said sales in the following 11 weeks, which included Christmas, fell by 27 per cent.
Superdry group revenues fell from £369.1million to £282.7million. It also sounded the alarm about ‘material uncertainty’ in the coming months.
Superdry boss Julian Dunkerton (pictured with wife Jade Holland Cooper) has insisted he is optimistic about a post-pandemic recovery on Britain’s high streets
But Superdry boss Julian Dunkerton said the retailer was in a strong position with £130million to draw on.
‘Do you think the world is going to get better or worse in the next 12months, compared to the 12 we have just had?’
Dunkerton said. ‘I think it is going to get better.
‘But from an accounting point of view we have to say we don’t know.’
He predicted there would be ‘huge pent-up demand’ in stores when the pandemic ends and shops can open once again.
‘Shopping is leisure and as such I think it will come back very quickly.’
Shares fell 16.3 per cent, or 39p, to 201p.