Co-founder Julian Dunkerton says being ‘cool again’ with TikTok generation helped turn previous £37m loss into £18m profit
Superdry is in talks with its banks to renegotiate up to £70m of debt, the fashion retailer revealed on Friday, but investors shrugged off concerns to send shares soaring more than 14% as the co-founder Julian Dunkerton announced a return to profit.
Dunkerton said Superdry “was cool again”, with strong demand from the TikTok generation for items such as parachute pants and Afghan coats, as he revealed pre-tax profits of £18m, a bounceback from a loss of almost £37m a year before as sales rose almost 10% to £610m in the year to 30 April.
Continue reading…Co-founder Julian Dunkerton says being ‘cool again’ with TikTok generation helped turn previous £37m loss into £18m profitSuperdry is in talks with its banks to renegotiate up to £70m of debt, the fashion retailer revealed on Friday, but investors shrugged off concerns to send shares soaring more than 14% as the co-founder Julian Dunkerton announced a return to profit.Dunkerton said Superdry “was cool again”, with strong demand from the TikTok generation for items such as parachute pants and Afghan coats, as he revealed pre-tax profits of £18m, a bounceback from a loss of almost £37m a year before as sales rose almost 10% to £610m in the year to 30 April. Continue reading…