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Superdry signals improved trading after annual loss

Superdry said demand was gradually returning, with a major shift of customers to its online stores
Superdry said demand was gradually returning, with a major shift of customers to its online stores

Superdry said today its trading performance has improved in the months since April despite uncertainty around the Covid-19 pandemic.

This comes as the British fashion retailer swung to an annual loss due to lockdown-led store closures. 

The company said demand was gradually returning, with a major shift of customers to its online stores.

But it had to discount heavily in the last few months to clear items that had accumulated in stores during lockdowns. 

Superdry, which sells sweatshirts, hoodies and jackets, has embarked on a plan to turn the business around under co-founder and chief executive Julian Dunkerton, who retook control of the group in April last year. 

"I am particularly pleased by how strongly e-commerce has performed, with FY21 first-quarter revenues nearly doubling year-on-year," said Dunkerton. 

Online sales for the 20 weeks to September 12 jumped 55.3%. 

The company said its underlying pretax loss stood at £41.8m for the year ended April 25, compared with a profit of £38m a year ago. Group revenue fell 19.2%, it added.