Superdry returns to revenue growth: “There’s a lot to look forward to”

Julian Dunkerton

Group revenues increased by 0.8 per cent in the last quarter at Superdry driven by e-commerce and wholesale, the company said today.

While Group revenue for FY21 has been substantially impacted by continued Covid-19 disruption throughout the year, down 21 per cent year-on-year to £556.6 million, the business was able to deliver the increase of 0.8% year-on-year in Q4 21.

Q4 21 Ecommerce performance was strong, with revenue up 26.6 per cent year-on-year, amplified by an increase in online trading gross margin as the company began the return to full price trading.

Superdry’s Neymar Jr. organic cotton campaign launched globally and resulted in record engagement rates through rigorous targeting, with two million engagements in the first three weeks across Superdry’s channels.

The company also said that it had seen encouraging trade seen since the re-opening of its owned stores in the UK with the initial run rate ahead of like-for-like trading through FY21. EU trading remains supressed due to continued restrictions.

Julian Dunkerton, Chief Executive Officer, said: “Our strengthened Ecommerce presence has helped mitigate the impact from enforced closures of our stores. We returned to revenue growth in Q4, and our commitment to a full price stance over the period has seen significant online margin improvement. Our liquidity remains strong, with closing net cash ahead of last year and our facilities remain undrawn.

“Despite all the disruption of the past year, Superdry has demonstrated its resilience and we have used this time to ensure the business is in the best possible shape for the future, really focusing on developing our digital presence and making strides towards our goal of being the most sustainable listed fashion brand. I’m proud that we’ve been able to accelerate our commitment to ensure all pure cotton items are organic by five years to 2025, working closely with growers in India, and that our focus in this area was recognised by Drapers at its Sustainable Fashion Awards in February.

“We have also further strengthened our leadership team with new CFO Shaun Wills and COO Silvana Bonello in place and already having a positive impact. Last week we were joined by Peter Sjӧlander who started in his role as Chairman. I am confident we have the right team in place to drive the business forward.

“The early signs following the reopening of our UK stores are encouraging, as lockdown restrictions start to lift, and we can clearly see the light at the end of the tunnel. In short, we are on track with our reset of the brand and there’s a lot to look forward to.”