- Superdry has warned it may not make a profit this financial year.

In its latest trading update issued on Friday (10 January), the fashion retailer said it expected underlying profit before tax to be between zero and +£10m.

The brand, once worn by celebrities including David Beckham, noted that the high street witnessed subdued consumer demand in the 10 week peak trading period between 27 October 2019 and 4 January 2020.

The group saw “lower than anticipated retail sales” of £23m since its Black Friday event, which were predominantly online.

Superdry is in the process of reviving its fashion range following the return of co-founder Julian Dunkerton to the leadership team.

In a trading statement on Friday (10 January), it said it had been “encouraged” by shoppers’ initial response to the limited amount of the new fashion range which has been trialled in stores. However, it warned that the success of the new range was insufficient to offset poor sales of older stock.

“Everyone at Superdry continues to work intensively to deliver the turnaround of the business,” Mr Dunkerton explained.

“While we have always said it will take time, we continue to make progress in implementing our strategy.”

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