Up-to-date coverage of the latest events in UK retail.
Superdry boss Dunkerton: I’ve saved Christmas
Superdry founder Julian Dunkerton claims he has saved Christmas for the troubled retailer.
In a video from house broker Liberum, Dunkerton, who muscled his way back onto the board in April following a shareholder vote, said he has focused on cutting costs and making sure that new products were available ahead of the crucial golden quarter.
He said: “Have I done enough to save Christmas? I actually think yes, I think it’s going to be quite exciting.”
Superdry suffered a pre-tax loss of £85m in the year to April and its share price has fallen around a quarter to 405p since Dunkerton resumed the chief executive role from former boss Euan Sutherland.
Dyson hits brakes on electric vehicle project
Dyson has pulled the plug on its £1bn project to produce electric vehicles after concluding the idea was not commercially viable.
It comes less than a year after the electricals giant unveiled plans for the car, which it hoped would compete with the likes of Tesla.
In a letter to his staff, Sir James Dyson said the business had developed a “fantastic car” but had been unable to sell it.
“Though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable,” he said.
“I wanted you to hear directly from me that the Dyson board has therefore taken the very difficult decision to propose the closure of our automotive project.”