Superdry boss: we are on track despite Covid closures

SUPERDRY boss Julian Dunkerton insists the reset of the business he founded is on track, despite brutal headwinds attacking the retail trade.

Sales in the half year to October slumped 23% and the chief executive resorted to a tactic for which he criticised previous management – cut price sales to “clear excess inventory”.

Dunkerton, restored as CEO after a boardroom battle, said: “Covid-19 continues to disrupt our store and wholesale channels, but this is partially mitigated by strong sales through our e-commerce operations.”

He reckons new Autumn/Winter rages and high consumer engagement via “influencer-led” campaigns will return the business to something like its former glory.

The shares fell 14p to 152p, which leaves the equity valued at just £126 million. The shares were above 500p at the start of the year.

The company, famed for hoodies and polo shirts with a distinctive logo, expects a surge in demand on Black Friday.

The lockdown leaves 122 stores across England closed.

Dunkerton led a boardroom coup to oust previous CEO Euan Sutherland, whom he claimed had no feel for the brand or why customers like it.

Three weeks ago chief financial officer Nick Gresham stepped down with immediate effect after just one year in the role.