Fashion retailer Superdry saw first half profit all but wiped out as its new leadership sought to address what it regards as the missteps of the previous management. Revenue fell 11 per cent to £369.1 million, as Mr Dunkerton, also the group’s biggest shareholder with an 18.5 per cent stake, tackled “legacy issues” across the business. He is focusing on full price sales and reducing promotional activity. Superdry reported a statutory pretax loss of £4.2 million, reflecting exceptional charges, versus a profit of £26.4 million last time. Mr Dunkerton cautioned it will take two to three years to turn Superdry around.

Source: The Irish Times December 12, 2019 08:15 UTC