Retailer Superdry said it is cautious about the future as spiralling costs and the weight that shoppers are under has added to uncertainty across the economy. The business said it has still not recovered to pre-pandemic revenue levels and does not expected to do so during the current financial year.
In the year to the end of April, revenue rose nearly 10%, hitting £610 million, while the business swung to a £17.9 million pre-tax profit, from a loss of £36.7 million a year earlier. “These are exceptional times for retail and for the economy more generally, and like all brands we’re having to work harder than ever to drive performance,” said chief executive Julian Dunkerton.
“Against that backdrop, I am pleased that we managed to return the business to full-year profit, driven by increased full-price sales, whilst also making strong strategic progress. I’m proud of the strides our team has made, delivering great product while also making a step-change in our social and digital capabilities and real progress towards our sustainability objectives.”
