Britain's Superdry tumbles to record low

Superdry

04/09/2023 12:53

** Superdry's  SDRY.L  shares down as much as 17% to 46.2
pence - among top pct loser across London stocks
    ** Stock hit its lowest level since listing in 2010
    ** Trading in SDRY shares restored days after it requested
for temporary suspension
    ** The struggling retailer delayed publication of its annual
results on Aug. 30, which were later released on Friday
    ** In its results, SDRY said it expects stunted rev growth
this FY after reporting a bigger-than-expected annual loss,
saying the cost-of-living crisis and fall in real wages led to
weaker sales
    ** Added that it was focusing on cost savings and margin
improvement
    ** Up to Wednesday's close, stock down ~56% YTD

 (Reporting by Radhika Anilkumar in Bengaluru;)
 ((Radhika.Anilkumar@thomsonreuters.com;))