Superdry’s boss serves up fresh profit warning but pushes back against talk of taking beleaguered company private
Denial: Julian Dunkerton
Superdry’s boss served up a fresh profit warning yesterday but pushed back against talk of taking the beleaguered company private.
Julian Dunkerton was reportedly in discussions with private equity firms last month, considering a potential buyout that would take the fashion company off the London market.
But the tycoon rejected these suggestions yesterday, stating there were ‘no plans to do this at the moment’.
Superdry lowered its annual earnings forecast after losses widened in the half-year, despite a strong Christmas period of shopping.
The business now anticipates pre-tax profits to ‘broadly break even’ for the 12 months to April, compared to a previously guided range of between £10m and £20m.
Superdry, popular among teenagers and best known for its Japanese-inspired graphics, told investors that it was ‘very cautious about the potential for a soft spring’ as inflationary pressure continues to weigh down consumers.
Shares crashed 17.7 per cent to 122.8p.