SuperDry blow as price-cutting rivals dent sales
Latest in Business News
On Facebook
SuperGroup, the fashion retailer, disappointed investors yesterday by warning on lower profits again after it blamed fierce discounting by rivals for a sharp slowdown in underlying sales in January.
Its weaker UK retail sales sent shares in the owner of the Superdry and Cult clothing brands crashing 120.5p, or 18 per cent, to 579.5p, continuing its roller-coaster ride on the stock market since it floated at 500p in March 2010.
Julian Dunkerton, the chief executive, said: "It was the most heavy discounting among our fellow retailers I have ever seen."
Underlying UK retail sales grew 4.4 per cent over the 13 weeks to 29 January, compared with 9.3 per cent in December. It has revised down full-year, pre-tax profit guidance to £50m-£54.1m.
- 1 Mark Zuckerberg saved $111m by selling Facebook shares before stock slumped
- 2 Solved after 33 years? Case of first missing boy shown on milk carton
- 3 Brazil rocked by abortion for 9-year-old rape victim
- 4 Greece: Out of cash, out of hope
- 5 Society: The only way is Finland
- 6 News in pictures
- 7 Cameron knew Hunt would back BSkyB bid
- 8 In pictures: The bewildering face of China
- 9 Catcalls, whistles, groping: just another day for a young woman
- 10 Ten adverts that shocked the world
- 1 Brazil rocked by abortion for 9-year-old rape victim
- 2 Society: The only way is Finland
- 3 Portugal 'sells' Ronaldo to Spain in £160m deal on national debt
- 4 Northumberland bids to create one of the world's biggest dark sky preserves
- 5 We will 'grow' all organs to order in future, says pioneering surgeon
- 6 Feeding a hungry world – or meddling with laws of nature?
- 7 'Hello mum, this is going to be hard for you to read ...'
- 8 The dark side of Dubai
- 9 French in uproar over oral sex anti-smoking posters
- 10 Coke reveals its secret: It may need to carry a cancer warning
Experience the Heineken Hub
Get free wi-fi and exclusive i content while you enjoy a tasty pint of Heineken at participating pubs.
Can you imagine a career in teaching?
Be inspired to teach - let real teachers show you how rewarding the job can be.
Playing a game-changing role during the Games
Cisco is providing the solutions for London 2012's complex IT needs.
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
Career Services
Day In a Page
Feeding a hungry world – or meddling with laws of nature?
Monkey meat that could be behind the next HIV
Catcalls, whistles, groping: just another day for a young woman
Move over Brangelina, this night belongs to Kingston Bagpuize
Pizza Pilgrims: Like mamma used to make
Gorgeous Georgian cuisine
Fury at Obama over filmmakers' access to Bin Laden kill team



Comments