British clothing retailer Superdry Plc closed the first half of the 2022/23 financial year in the red. Due to the recently weak wholesale business and “increasing uncertainty” with regard to development in the fourth quarter, the company also revised its profit forecast in an interim report published on Friday. For the year as a whole, management now only expects earnings before taxes adjusted for special effects to be “in the range of break-even”. So far, a positive result of ten to twenty million British pounds had been targeted.
In the first half of 2022/23, which ended on October 29, group sales were 287.2 million pounds sterling (326.5 million euros) and thus 3.6 percent above the corresponding level of the previous year. While revenues in the company’s own retail business grew, they fell by 5.2 percent in the wholesale business.
CEO Julian Dunkerton also had to admit in a statement that earnings expectations could not be met. In the first half of the year, the company posted a net loss of £12.2 million (EUR 13.9 million), down from a surplus of £2.5 million in the same period last year.