Superdry boss issues new profit warning but pushes back on talks of privatizing embattled firm
Disclaimer: Julian Dunkerton
The Superdry boss issued a fresh profit warning yesterday but pushed back on talks of taking the beleaguered company private.
Julian Dunkerton was reportedly in talks with private equity firms last month, eyeing a potential takeover that would take the fashion company off the London market.
But the tycoon dismissed those suggestions yesterday, saying there were ‘no plans to do so at the moment’.
Superdry lowered its full-year profit forecast after losses widened during the half-year, despite a strong Christmas shopping period.
The firm now expects pre-tax profits to “broadly break even” for the 12 months to April, from a previously guided range of between £10m and £20m.
Superdry, popular among teenagers and best known for its Japanese-inspired graphics, told investors it was “very cautious about the potential for a mild spring” as inflationary pressure continues to weigh on consumers.
Shares tumbled 17.7% to 122.8p.
