Superdry finance boss steps down after only a year

Gresham only joined Superdry in June 2019 on an interim basis, and was appointed as permanent finance lead in August of the same year.

He was appointed following the return of founder Julian Dunkerton to the business in April, which triggered a wave of board resignations, including that of its then-chief financial officer, Ed Barker.

Gresham previously held top finance roles at Wiggle, Oak Furniture Land and Homebase.

The reason for his swift departure has not been revealed, but the retailer said it was his decision.

Superdry chief executive Dunkerton said: “Nick joined Superdry at a time of significant change and challenge in the business.

”He has played an important role in putting the company in a stronger position than it was before he joined and helped to steer Superdry through the impact of the COVID pandemic.

“I would like to personally thank Nick for all his efforts in supporting me, the company and all our stakeholders. I wish him all the best for the future.”

Superdry has, like other retailers, suffered a sales slump during the coronavirus pandemic. Revenue was down 19.2% to £704.4m in the year to April 25, when statutory pre-tax profits fell 87% to £167m.

On an underlying basis, the retailer made a loss of £42m compared with a profit of £38m the previous year. 

In the 20 weeks to September 12, the retailer reported store sales down 48%, while online sales surged 55%.

Dunkerton has, however, been confident that the brand’s latest design overhaul will prove fruitful.