Superdry shares hit record low as stock trading resumes

by | Sep 4, 2023

(Sharecast News) – Shares in high street retailer Superdry tumbled to a record low on Monday after the stock resumed trading on the London Stock Exchange following a suspension owing to the delayed publication of its full-year results.
The company announced on 30 August that its shares had been suspended from trade after its auditor needed more time to check over its figures.

The results, which were released two days later, showed a mixed performance, with the group reporting a 2.1% rise in revenue to £622.5m for the year to 29 April but a a statutory loss after tax of £148.1m, largely due to non-cash impairments and other adjustments.

The start to the new financial year had also been “tough”, founder and chief executive Julian Dunkerton said, not helped by unseasonal weather and highly promotional markets, with the CEO not expecting the consumer environment to become any easier in the short-term.

By 1357 BST on Monday, the stock was down 11% at 49.85p, having touched an all-time low of 43p earlier in the session – its lowest ever level since floating on the market back in 2010 at 500p.

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