Superdry full-year sales slide as it explores financing options

Superdry hoodies

Superdry has reported a slump in full-year sales exacerbated by the outbreak of coronavirus.

The fashion retailer reported a 19.1% slump in full-year group revenue to £705.5m, compounded by a 57% tumble in stores sales in its fourth quarter following mandated store closures across its estate due to the public health emergency.

Superdry said its ecommerce sales have nearly doubled over the last four weeks and womenswear has accounted for nearly half its sales for the first time. This increase was not sufficient to offset to the overall 8.2% decline in ecommerce sales over the course of the full year.

Over the full year, store revenue declined 22.9%, which Superdry attributed to “the return to a full-price trading stance, particularly over the peak trading period, reflected in the full price sales mix increasing by 16% to 69% over the full year”.

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