Superdry warns worse to come as profits plunge

Superdry store Image copyright Reuters

Superdry, best known for its coats and zip-up sweatshirts, has warned of weaker than expected profits, saying customers haven’t bought extra winter layers this year.

It now expects annual profits of between £55m and £70m, analysts had been expecting around £84m.

Superdry blamed warm weather, consumer uncertainty and a need to innovate.

The firm said underlying profit before tax almost halved in the first half of the year, to £12.9m.

The retailer is a third of the way through an 18 month strategy to re-energise the brand.

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