Superdry sales are recovering despite subdued high streets

Superdry has said that sales are recovering well despite subdued high street footfall as the fashion retailer posted shrinking losses for the past financial year.

Superdry said that sales are recovering well

The company reported a pre-tax loss of £37m for the year to April 24, compared with a £167m loss from a year earlier.

Superdry said it has seen revenues slip by 21 per cent to £556m for the year as it was disrupted by further lockdowns across key regions.

Sign up to our Business newsletter

Sign up to our Business newsletter

Julian Dunkerton, chief executive of Superdry, said: “Like most brands with a physical presence, our performance over the past year has been impacted by the significant disruption of Covid-19, but I am really proud of how the business has stepped up and returned to revenue growth in Q4.

“Store and wholesale revenues are recovering well despite continued subdued footfall, and e-commerce margin is benefitting from our return to a full price stance.

“I’m in no doubt that we’re turning the corner and there’s a lot to be excited about.

“Trading has been encouraging since the reopening of our stores, and we’ll take a big step forward as a brand with the opening of our global flagship store in Oxford Street later in the autumn.

“Whilst a lot remains uncertain, I’m looking ahead to 2022 and beyond with real confidence as we deliver our reset.”