Superdry’s shares took a tumble after store sales struggled in its most recent quarter.
In a pre-close update, the fashion retailer said it expected pre-tax profits to come in between £96.5m and £97.5m.
While this represents double-digit profit growth for Superdry across the year, the figures fall into the bottom end of the consensus range of £95.6m to £101.9m.
Superdry said global brand revenue surged 22.1% to £1.6bn in the 52 weeks to April 28, driven by growth in its wholesale channel – up 29% – and online – up 26%.
It also said it continued to benefit from the “relative weakness of sterling”.
In its fourth quarter, however, store sales slid 6% to £86.1m. Across the year, store sales rose 3.4%.
Superdry said “store-based revenues remained under pressure” and explained that snow and lower temperatures took their toll in key markets in the past 16 weeks.
Chief executive Euan Sutherland said: “While the consumer environment remains challenging, we are confident that Superdry’s reputation […] leaves us well placed.”
Shares fell 11% in early trading.