{"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

<\/p>\n

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

CEO Julian Dunkerton said trading has been \u201cencouraging\u201d since shops reopened, adding that the opening of Superdry\u2019s new Oxford Street flagship<\/a> store this autumn will be a big step forward.<\/p>\n

\u201cLike most brands with a physical presence, our performance over the past year has been impacted by the significant disruption of Covid-19, but I am really proud of how the business has stepped up and returned to revenue growth in Q4,\u201d he said.<\/p>\n

\u201cStore and wholesale revenues are recovering well despite continued subdued footfall, and e-commerce margin is benefiting from our return to a full-price stance.<\/p>\n

\u201cI\u2019m in no doubt that we\u2019re turning the corner<\/strong> and there\u2019s a lot to be excited about.<\/p>\n

\u201cWhilst a lot remains uncertain, I\u2019m looking ahead to 2022 and beyond with real confidence as we deliver our reset.\u201d<\/p>\n","protected":false},"excerpt":{"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","protected":false},"author":68,"featured_media":179213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[12268,10812],"acf":[],"yoast_head":"\nSuperdry "turning the corner" as losses shrink despite store closures - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/superdry-turning-the-corner-as-losses-shrink-despite-store-closures\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Superdry "turning the corner" as losses shrink despite store closures - 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