Superdry announces cost savings programme and profit warning

Superdry has issued a trading update in which it details performance was “weaker than expected” as trading remained “challenging”.
In an update for the 26-week period to October 28, the clothing retailer, which has its headquarters in Gloucestershire, said that H1 2024 was characterised by a challenging consumer retail market, with the “abnormally mild autumn” resulting in a delayed uptake of its AW23 collection.
Retail was down 13.1% year-on-year, with stores and ecommerce impacted by the warmer weather, coupled with a later start date to the retailer’s end-of-season summer sale. Wholesale was also down year-on-year by 41.1%, which Superdry said was due to the decision t …