Superdry shares plunge as it warns profit could hit zero January 10, 2020 Superdry witnesses its stock plummet in early trading today after issuing a dramatic profit warning on the back of underwhelming sales over its peak Christmas trading period. The fashion retailer now expects underlying profit before tax to range up to £10m, but warned it could vanish altogether after booking “lower than anticipated” retail sales of [...]
Why high street discounts are a dangerous drug December 17, 2019 Retailers love to brag about breaking records, but one they won’t be cheering this Christmas is the prediction that price cuts could potentially top 50 per cent for the first time ever. Amid a fierce fight to woo last-minute shoppers into their stores, high street chains are once again turning to a festive sales bonanza [...]
Superdry boss takes swipe at Black Friday as he launches brand revamp December 12, 2019 Superdry boss Julian Dunkerton today blasted the “madness” of blanket Black Friday discounting, vowing to reduce his company’s reliance on the sales bonanza next year. Dunkerton, who founded the struggling fashion chain in 2003, took a swipe at his rivals’ practice of slashing prices on their core ranges. Read more: Superdry swings to a £4.2m [...]
Superdry swings to £4.2m loss as Dunkerton hits reset button December 12, 2019 Superdry’s swung to a £4.2m loss in its first half-year results under co-founder Julian Dunkerton since his return to the helm, the firm revealed today. Read more: Saga appoints ex-Superdry boss Euan Sutherland as new CEO The figures Superdry witnessed underlying profits implode as they sank 98.4 per cent year on year to just £200,000 [...]
John Laing shares drop after warning net assets will fall below expectations December 12, 2019 Shares in John Laing dropped this morning after the greenfield infrastructure investor said its net asset value (NAV) for the year would be below expectations. In a trading update issued this morning, the group said that uncertainty over a number of factors will impact its full-year results, including progress with ongoing transactions and the outcome [...]
PZ Cussons chief executive quits as ‘challenging market conditions’ hit UK profit December 12, 2019 The chief executive of PZ Cussons has called time on his 13-year reign at the consumer healthcare manufacturer, as the company blamed “challenging market conditions” for a decline in first-half profit. Alex Kanellis said he would retire from the role on 31 January after being with the firm since 1993, and chief executive since 2006. [...]
Saga appoints ex-Superdry boss Euan Sutherland to CEO role December 11, 2019 Over-50s insurer Saga has found a new chief executive in the former boss of Superdry, Euan Sutherland. Sutherland will start at Saga on 6 January, replacing retiring boss Lance Batchelor, who will leave the business at the end of January. Read more: Saga could sell care operations under Elliott break-up threat Sutherland recently quit the [...]
Superdry revenue drops as rescue plan gets underway November 7, 2019 Superdry reported a sharp drop in revenue in the first half of the year as chief executive Julian Dunkerton began his rescue plan to revive the struggling retailer. Revenue declined 11.3 per cent to £367.8m in the six months to 26 October reflecting the beginning of an “expected year of reset”. Read more: Investors back [...]
Care leavers deserve a chance to begin adulthood on firm footing October 30, 2019 We all remember the challenge of becoming an adult. Fresh out of school, college, or university, you are out there on your own – hunting for your first job, your first flat, and trying to make ends meet on your first pay cheques. My first taste of real adulthood came at age 22, straight out [...]
Julian Dunkerton to stay on as Superdry CEO until April 2021 October 14, 2019 British fashion brand Superdry has said co-founder Julian Dunkerton will stay on as chief executive officer until April 2021. Dunkerton has been interim CEO since April this year, after very narrowly winning a crunch shareholder vote with a pledge to turn the struggling retailer around. In July Superdry fell to a £85.4m loss, from a [...]