Superdry's full-year figures were bad, as expected, but the company said its "reset year" is starting to yield results as its shifts from a buyer-led approach, boosts web sales, increases marketing and reinvents itself.
Superdry has appointed former finance heads of M&S and New Look to its board, months after the retailer's founder Julian Dunkerton rejoined after a bruising boardroom battle that saw most of its directors leave.
British fashion retailer Superdry Plc delayed the publication of its annual results to July 10, blaming the "complexity" of reflecting one time lease and store impairment charges, coupled with recent management changes.
Superdry's trading update showed a sharp decline in Q4, but new its new management said it's acting fast to get it back to generating sales rises, although a profit warning means it won't be a quick transformation.
Shares in Superdry Plc fell more than 11 percent on Wednesday after founder Julian Dunkerton narrowly forced his way back into the company, which sparked the exit of most of its board members, including top executives.
Superdry co-founder Julian Dunkerton needed 50% shareholder support to get back onto the struggling retailer's board and he has won his battle, getting 51.15% of the votes. The exec team has quit and he's now CEO.