UK fashion brand Superdry warns over profit drop amid inflation

LONDON, March 7 (Reuters) – British fashion brand Superdry warned on Monday it was likely to miss market profit forecasts for the year as inflation weighed on consumer spending, sending its shares down 7%..

The company said it now expected its profit before tax for the year ending April 29 to be in the range of 70 million pounds to 80 million pounds ($93 million-$106 million), below analysts’ average forecast of 84 million pounds, according to Refinitiv data..

Superdry shares were down 6.6% at 1002 GMT, having fallen as much as 11.6% earlier in the session. The stock has lost more than 75% of its value over the past five years..

The company said it had seen a .

Leave a Reply

Your email address will not be published. Required fields are marked *