UK's Superdry slumps to record low on profit warning
19/12/2023 08:43
** Shares of Superdry Plc SDRY.L slump as much as 32.5% to
record low of 28.2p
** The British fashion retailer warns of a hit to annual
profit as sales were "significantly below" management's
expectations due to weak demand for its jackets and hoodies
** Says unseasonal weather through the early autumn had led
to a delayed uptake of its autumn/winter range, hurting sales in
HY ended Oct 28
** Adds sales in the six weeks since the half-year end were
down about 7% on a like-for-like basis
** Stock top pct loser across London shares
** Stock down ~80%, YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))