Coronavirus: Superdry to miss targets after sales hit

Superdry hoodies

Superdry will miss its financial guidance after the coronavirus outbreak hit sales overseas and in the UK.

Superdry said that 78 stores in Europe, which account for about 40% of weekly sales forecasts, are closed at present. In the UK and US ”footfall has been significantly impacted”, reducing on average 25% per week the retailer said.

Superdry reported: ”Given the performance to date, we do not expect the decline in sales from our retail stores to be fully mitigated by sales through our ecommerce channel, which remains fully open for business. Whilst we are also pursuing cost-saving measures across the business, we do not expect these to be sufficient to offset the sales decline.”

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