Superdry profits expected to rise 11%

By

Barbara Santamaria

Published
Jul 2, 2018

British clothing group Superdry is expected to announce double-digit profit growth when it reports its full-year financial results to investors on Thursday.

Analysts expect the company will report profits before tax of around £144 million and adjusted profits of around £97m, reported City AM. This would be in line with the company’s expectations and represent an increase of 11%.

Superdry had a slow fourth quarter, with snowy conditions and a decline in year-on-year average temperatures impacting the early Spring/Summer season. In May, the company revealed store sales fell by 6% during the three-month period.

But wholesale and e-commerce continue to be strong at the company, helping its boosts its revenues for the full year ended 28 April 2018.

Superdry has 223 stores worldwide, including 102 in the UK and Ireland, 108 in Europe and 23 in North America.

Since year end, the company has appointed Ed Barker as new chief financial officer, succeeding Nick Wharton who has been at the brand since 2015.