Tide Card Low Tide Superdry Extremely Dry Release Third Surplus Police During The Year

British clothing retailer Superdry PLC (SDRY.L) is extremely dry today. Today, fourth quarter sales have declined further due to the weakness of wholesale and electricity suppliers, and have issued third profit warning in the past 8 months.

A month ago, Julian Dunkerton, the co founder and largest shareholder of almost the entire board and management, said that it had taken prompt steps and was confident that Superdry would be extremely dry and could redesign growth and restore brand image.

Superdry PLC (SDRY.L) narrowed sharply after opening 8.4% on Thursday, and recorded an increase of 4.9%.

The group warned that the pre tax profits in the 2019 fiscal year ending April 27th will be lower than the market forecast of 5410-5940 pounds, which means at least 44.2% less than the 97 million in the previous fiscal year, while the former management set a profit target of 5500-7000 pounds in December last year.

Due to the expansion of products on the basis of the core styles such as logo's jacket and jacket, consumers' demand has not been boosted. The global brand income of Superdry PLC has decreased by 5.2% to 406 million 300 thousand pounds in the fourth quarter, reversing the 5.4% growth in the three quarter.

Group revenue also fell 4.5% to 187 million 800 thousand pounds, compared with 9.3% and 3.9% of wholesale and e-commerce respectively, while sales increased 2.2% to 68 million 800 thousand pounds.

In the 2019 fiscal year, the annual income was 871 million 700 thousand pounds, which was basically equal to 820 million pounds in fiscal year 2018.

In the whole year, only store sales declined, revenue decreased by 3.7% to 373 million pounds, wholesale business and e-commerce increased by 3.6% and 1.6% to 335 million pounds and 163 million 700 thousand pounds respectively.

At present, Julian Dunkerton, a temporary CEO, points out that in the past five weeks, he has "found countless places that can be improved immediately."

So far, he has increased the gross margin sales figures by cancelling all the discount outlets and reducing the whole channel promotion level, and increasing the style supply online and offline. This will help to reduce the inventory of European warehouses five times that of online products. In the next half year, he will work closely with the creative and design team to launch 500 new products.

"Stability is my top priority," he said in his performance update. "Adjusting the scope of goods and improving e-commerce is the most important work in recent weeks." I am confident that we are moving in the right direction.

On the other hand, Julian Dunkerton said that Superdry PLC will give priority to chief financial officers, human resource managers and non-executive directors, and seek new CEO after stabilizing teams and correcting strategies.

Superdry PLC (SDRY.L) reported 481 pence on Thursday, a weak rise of 2.8% since 2019, and a sharp drop of 61.5% in the past 12 months.