Retail Week looks ahead to the next seven days with Superdry’s EGM and Topps Tiles’ trading update on the agenda.
Superdry extraordinary general meeting
Superdry will hold an extraordinary general meeting at the request of co-founder Julian Dunkerton on Tuesday, April 2.
Dunkerton will ask shareholders to re-elect him and current Boohoo chair Peter Williams as non-executive directors at the business, which has suffered several profit warnings.
The business has advised its shareholders to vote against the resolutions.
Dunkerton has been a vocal critic of Superdry management since he left the business last year, and still holds a 19% stake in the fashion retailer.
His bid to return has won the backing of City investors Investec and Schroders ahead of the crunch EGM. Schroders and Investec have more than a 10% stake between them, representing a significant show of support.
Dunkerton told Retail Week: “I am confident we will win.”
The specialist retailer will report a half-year trading update on Wednesday. Topps Tiles posted a decline in its first-quarter like-for-like sales against strong comparative sales the previous year. The retailer posted a 25% fall in its preliminary pre-tax profits to £12.7m in November.