REG-Superdry plc Superdry plc: FY22 year end trading statement

SuperdryAnnouncement

12/05/2022 07:15

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   Superdry plc (SDRY)
   Superdry plc: FY22 year end trading statement

   12-May-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                  SuperdryPlc

                         (“Superdry” or “the Company”)

   12 May 2022

                        FY22 Year-end Trading Statement

      Further progress on brand reset; continued focus on full price sales

    For relevant comparison, all figures in the text and the table refer to
     52-week versus 52-week comparisons, excluding the additional 53rd week
                                  this year1.

                                        

     • Store revenue recovered, up 59.8% year-on-year, as we lapped  enforced
       closures and  restrictions  were lifted  in  our key  markets,  though
       footfall remains significantly below pre-Covid levels.
     • Ecommerce  revenue  decreased  (24.0)%  year-on-year,  reflecting   an
       element of  channel shift  back to  physical trading  and our  reduced
       promotional activity, in line with  our strategic focus on full  price
       sales.
     • Full price  sales mix2  increased 26%pts  year-on-year, delivering  an
       anticipated 590bps improvement in Retail gross margin.
     • Encouraging Wholesale revenue growth of 4.2% year-on-year, despite the
       prolonged disruption in European markets.

    

   £m                Quarter 41,3         Full Year1,3
                 Q4 22   Vs 21  Vs 20  FY22   Vs 21   Vs 20
   Group Revenue 159.7   17.0%   6.7% 600.7    8.0% (14.7)%
                                                           
   Store          47.2  203.0%  22.9% 224.5   59.8% (21.8)%
   Ecommerce      38.2 (21.5)% (6.6)% 153.4 (24.0)%    1.2%
   Retail         85.4   33.0%   7.7% 378.0   10.4% (13.9)%
   Wholesale      74.2    2.7%   5.6% 222.8    4.2% (16.1)%

    

   Julian Dunkerton, Chief Executive Officer, said:

   “We continue to execute our strategy of returning the Superdry brand to  a
   premium position and I am excited  by the progress we are making.  Despite
   the ongoing tough trading conditions and turmoil in the market, our  focus
   on full price trading will deliver  a strong gross margin improvement  for
   FY22.

   We are conscious  of the  cost-of-living pressures  on consumers,  meaning
   that now, more than ever, we must continue to deliver product that  stands
   for what is important to them: quality, style and sustainability at  great
   value.

    

   As we head into FY23 we  remain cautious on the macroeconomic outlook  and
   the impact of inflation but are confident that our strategy is positioning
   the brand for future success.”

    

   Notes

    1. The trading numbers for week 53 are equivalent to £9.7m Group  Revenue
       and £5.7m Group  Gross Margin.  A table  including the  impact of  the
       extra week has been included below:

                     Quarter 4 (16-week vs     Full Year (53-week vs 52-week)
   £m                      15-week)
                    Q4 22      Vs 21     Vs 20     FY22      Vs 21      Vs 20
   Group Revenue    169.4      24.1%     13.2%    610.5       9.8%    (13.3)%
                                                                             
   Store             51.1     227.9%     33.0%    228.4      62.6%    (20.5)%
   Ecommerce         40.5    (16.7)%    (0.9)%    155.7    (22.9)%       2.7%
   Retail            91.6      42.6%     15.5%    384.1      12.2%    (12.5)%
   Wholesale         77.8       7.7%     10.6%    226.3       5.9%    (14.8)%

    2. Net full price  sales from  full price  channels, excluding  mark-down
       product  but  including  basket-building  mechanics  (e.g.,  3  for  2
       offers).
    3. Q4 22 relates  to the residual  15-week period ending  23 April  2022,
       following our 11-week trading update  on 20 January 2022 and  excludes
       the final week (week 53) of FY22 (see Note 1 above). The  comparatives
       relate to the 15-week period ending  24 April 2021 and 25 April  2020.
       FY22 relates  to the  52-week  period ended  23  April 2022  and  also
       excludes the 53rd week. The comparatives relate to the 52-week periods
       ending 24 April 2021 and 25 April 2020. All numbers are unaudited.
    4. For additional information:

                   Q4 22 Q4 21 Q4 20 FY22 FY 21 FY 20
   Lost store days    1%   38%   39%   4%   39%   10%

    

    

    

   For further information:

   Superdry:

   Candice Johnson investor.relations@superdry.com +44 (0) 1242 586747

    

   Media enquiries

   Tim Danaher, Imran Jina superdry@brunswickgroup.com +44 (0) 207 404 5959

    

   Notes to Editors

   Our mission is “To  be the #1 sustainable  style destination” through  our
   distinct  collections,  defined  by  consumer  style  choices.  We  design
   affordable, premium quality clothing,  accessories and footwear which  are
   sold around the world. We have  a clear strategy for delivering  continued
   growth via  a  multi-channel  approach combining  Stores,  Ecommerce,  and
   Wholesale.

    

   Superdry has 220 physical stores and around 475 franchisees and licensees.
   We operate in over 50 countries and have over 4,000 colleagues globally.

    

   Cautionary Statement

   This announcement contains certain forward-looking statements with respect
   to the financial condition and operational results of Superdry Plc.  These
   statements  and  forecasts  involve  risk,  uncertainty,  and  assumptions
   because they  relate to  events and  depend upon  circumstances that  will
   occur in the future. There are a number of factors that could cause actual
   results or  developments  to differ  materially  from those  expressed  or
   implied  by  these   forward-looking  statements.  These   forward-looking
   statements are made only as at  the date of this announcement. Nothing  in
   this announcement  should be  construed as  a profit  forecast. Except  as
   required  by  law,  Superdry   Plc  has  no   obligation  to  update   the
   forward-looking statements or to correct any inaccuracies therein.

    

    

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   ISIN:           GB00B60BD277
   Category Code:  TST
   TIDM:           SDRY
   LEI Code:       213800GAQMT2WL7BW361
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   161112
   EQS News ID:    1350173


    
   End of Announcement EQS News Service

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