Superdry said today it now expected to broadly break even this year compared with its earlier forecast for a profit, as its wholesale segment underperformed amid higher uncertainty during the last quarter.
Inflation-pinched UK consumers cut their shopping last month by the most in at least 25 years, official data showed, dashing hopes of a Christmas boost for the country's flagging retail sector.
However, Superdry saw sustained demand over the Christmas period as sales at stores caught up to pre-pandemic levels, with the fashion retailer's revenue rising 24.9% in the nine weeks to the end of December.
"We don't expect market conditions to become easier any time soon, but with a new financing package in place and the brand in great health, we approach the year ahead with optimism," chief executive Officer Julian Dunkerton said in a statement.
The retailer's adjusted loss before tax widened further to £13.6m in the half year from the £2.8m loss it saw a year ago.
The company had earlier forecast an adjusted annual profit before tax of between £10-20m.
