FollowSupergroup is the owner of Superdry, a popular clothing brand. Supergroup reported a total of 30 percent fall in its first-half profit. The first-half season has been very painful to clothing brands simply because it was the period of time when an unusual warm autumn hurt the sales of each brand’s winter items and when the summer ranges got mixed reactions from buyers.
The company announced 12.5 million pounds underlying pretax profit for the six months ended 25th of October 2014 down from the underlying pretax profit of 17.9 million last year. On the other hand, its like-for-like sales decline as much as 4.1 percent.
According to Euan Sutherland, the Chief Executive of the company, the update reflects a difficult first half for them. He also emphasized how external impacts, such as the unusual warm autumn season, affect the company’s performance, especially with the kinds and mix of products that they currently have.
The chief executive also added that the group, which is known to compete with brands like Fitch and Jack Wills and Abercrombie, was heavy on stock. However, he said they would not change the company’s discounting policy that is set to favor certain targeted promotions over product clearance sales.
