Superdry slips to fresh low as jittery investors await half-year results

Superdry

18/01/2024 15:07

** Shares of  British fashion retailer Superdry  SDRY.L 
slumped as much as 20% to a record low of 16.98p owing to
speculation around its debt options
        ** Stock top pct loser on FTSE small caps index  .FTSC 
  
        ** Out of 13 trading days so far in Jan., SDRY has
fallen for 11 of them
  
    ** Analysts point to market concerns over press reports that
co is evaluating debt options
    ** Sky News on Tuesday reported SDRY has appointed PwC as
its advisor to examine debt-raising options; stock has fallen
42% since then
    ** "It warned before Christmas, is loss-making and, to
implement further restructuring, may need additional cash if it
can't complete any further IP or licensing deals in the coming
weeks. Ahead of interim results and a Christmas trading update,
investors are nervous," - Matthew McEachran​​​​, analyst at
Singer Capital Markets
    ** In Dec, co warned of a hit to annual profit, as unusually
warm weather hurt sales of its autumn/winter collection and
consumers reined in spending amid a cost-of-living squeeze
    ** Co has not set a date for interim results yet
    ** SDRY has lost 86.6% in the last 12 months
    



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 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))