Fashion retailer Superdry has reported a fall in quarterly sales.
However global brand revenue – the ”equivalent value of the group revenue at the prices paid by customers” – rose 5.4% to £479.6m.
Wholesale revenue climbed 12.7% to £73.5m but ecommerce sales edged down as they were “further impacted by a lower number of owned site promotions in some territories”.
Superdry chief executive Euan Sutherland said performance had been “subdued” but action was being taken to put the business back on track.
He said: “We continued to be impacted by the ongoing product mix and relevance issues we have previously highlighted and by the lack, until the end of quarter three and the start of quarter four, of any prolonged period of cold weather in our key markets.
“We are pleased with the early progress being made with our transformation programme, designed to reset the business and deliver a return to higher levels of growth and profitability.”
The retailer said its programme to generate £50m of gross cost savings was ”gathering pace ” and its executive team had been strengthened with the appointments of Phil Dickinson as creative director and Lucy Maitland-Walker as merchandising director. They joined Superdry last month.