{"id":179212,"date":"2021-09-16T08:06:22","date_gmt":"2021-09-16T08:06:22","guid":{"rendered":"https:\/\/www.theindustry.fashion\/superdry-turning-the-corner-as-losses-shrink-despite-store-closures\/"},"modified":"2021-09-16T16:58:19","modified_gmt":"2021-09-16T16:58:19","slug":"superdry-turning-the-corner-as-losses-shrink-despite-store-closures","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/superdry-turning-the-corner-as-losses-shrink-despite-store-closures\/","title":{"rendered":"Superdry \"turning the corner\" as losses shrink despite store closures"},"content":{"rendered":"
Superdry has announced it is \u201cturning the corner\u201d as it posted shrinking losses for the past year, despite the closure of stores due to the coronavirus pandemic.<\/p>\n
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The premium fashion brand told investors that sales were \u201crecovering well\u201d even though high street footfall was subdued and that it was continuing with its transformation plan amid a challenging retail environment.<\/p>\n
The company reported a pre-tax loss of \u00a336.7 million<\/strong> for the year to 24 April, compared with a \u00a3166.9 million loss a year earlier.<\/p>\n Superdry saw revenues slip by 21.1% to \u00a3556.1 million for the year as it was disrupted by further lockdowns across key regions.<\/p>\n It said almost 40% of potential store trading days were lost<\/strong> due to pandemic closures over the period.<\/p>\n Meanwhile, the retailer said sales for the latest 18 weeks from the end of April were 1.9% ahead of sales from last year.\u00a0However, it added that this was 29.6% below pre-pandemic levels from 2019.<\/p>\n The group said a strong rebound in store sales in the UK and US<\/strong> was partially offset by business in the EU, which saw further closures at the start of the period.<\/p>\n It said e-commerce sales were also \u201cmodest\u201d compared with the rapid growth it had seen in the previous year after the pandemic helped accelerate online traffic.<\/p>\n