Superdry’s shares fell 11% on Tuesday after the group warned about the future amid the pandemic.
In the 11 weeks ending January 9th, revenue fell 52% as stores closed amid new restrictions. In the six months ended October 24, the company recorded a pre-tax loss of £18.9 million compared to a loss of £4.2 million the previous year.
The co-founder of Superdry said: “Covid-19, like many other brands, has posed a major challenge for Superdry, which continues into the first half, renewing lockdowns in key markets.
“While revenue and fundamental profits are affected by external conditions, brands continue to focus on resets, 70 stores that are currently closed and need to close a significant number at peak times. Over % are closed, but it takes time to see. The benefits of all the hard work flow into the results.”
In a statement, the retailer said: “The group director pointed out that risks are occurring. It shows that there is significant uncertainty and could raise serious doubts about the group’s ability to continue as a continuing concern. There is, and therefore, it may not be possible. You will realize that asset and forgive your debts in a regular business course.”
The net cash reserves remained strong annually, reaching £54.8 million as of January 9th.
“We continue to increase the liquidity available by over £130 million. Our £70 million asset support lending facility is still available and has not been used to date, so we are currently in its current state. is still repeated,” the retailer said.
The board has not declared a temporary dividend.
SuperDry stocks are trading -17.08% at 199,00 (1105GMT).
