{"id":5372,"date":"2018-12-12T08:12:05","date_gmt":"2018-12-12T08:12:05","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/superdry-warns-worse-to-come-as-profits-plunge\/"},"modified":"2018-12-12T08:12:05","modified_gmt":"2018-12-12T08:12:05","slug":"superdry-warns-worse-to-come-as-profits-plunge","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/superdry-warns-worse-to-come-as-profits-plunge\/","title":{"rendered":"Superdry warns worse to come as profits plunge"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Superdry store\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/18055\/production\/_103998389_superdry.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Reuters<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Superdry, best known for its coats and hoodies, has warned of weaker than expected profits, saying customers haven&#8217;t bought extra winter layers this year.<\/p>\n<p>It now expects annual profits of between \u00a355m and \u00a370m &#8211; analysts had been expecting around \u00a384m.<\/p>\n<p>Superdry blamed warm weather, consumer uncertainty and a lack of innovation.<\/p>\n<p>The company is considering closing stores as part of a cost cutting drive to save \u00a350m by 2022.<\/p>\n<p>&#8220;Superdry had a difficult first half, impacted by unseasonably warm weather across our major markets, a consumer economy that is increasingly discount driven and the issues we are addressing in product mix and range,&#8221; said Euan Sutherland, Superdry&#8217;s chief executive officer.<\/p>\n<p>Underlying profit before tax almost halved in the first half of the year, to \u00a312.9m.<\/p>\n<p>The retailer is a third of the way through an 18-month strategy to re-energise the brand which includes introducing childrenswear and 100% organic cotton products.<\/p>\n<p>Mr Sutherland said the firm&#8217;s &#8220;over-reliance&#8221; on jackets and sweatshirts was partly to blame for flagging sales.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46535682\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Reuters Superdry, best known for its coats and hoodies, has warned of weaker than expected profits, saying customers haven&#8217;t bought extra winter layers this year. It now expects annual profits of between \u00a355m and \u00a370m &#8211; analysts had been expecting around \u00a384m. Superdry blamed warm weather, consumer uncertainty and a lack of innovation. &hellip; <\/p>\n","protected":false},"author":0,"featured_media":5373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=5372"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/5373"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=5372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=5372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=5372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}