Superdry firm Supergroup's profit hit by warehouse cost

Superdry store Supergroup is continuing its rapid expansion

Related Stories

Superdry owner Supergroup has reported a dip in half-year profits after being hit by problems at a warehouse that affected supplies of its clothing.

Underlying pre-tax profits for the six months to 30 October were £13m, down from £13.5m last year, after it took a £4m hit for the supply problems.

The firm estimates the supply problems will cost it £8.8m for the full year.

However, Supergroup said the problems had now been sorted and that its retail business was seeing rising sales.

It said like-for-like sales - which strip out the impact of new stores - in the current quarter were "positive", whereas they were down 3.3% in the previous quarter.

During the six-month period, the company opened another 12 shops, taking its total number of stand-alone outlets to 72.


Last Updated at 30 Sep 2014, 10:24 ET Supergroup twelve month chart
price change %
1124.00 p -

The Cheltenham-based company also plans to open eight new shops by April next year, including a new flagship store on London's Regent Street.

Supergroup had announced in October that problems with a new management system - which disrupted supplies of the firm's clothing to its stores - would cost it up to £9m, and the news pushed its shares down 30%.

Supergroup's share price has seen large swings since the company listed on the London Stock Exchange in March 2010 at a price of £5 per share.

The price rose steadily to peak at more than £18 in February this year, but then fell back after news of slowing sales growth and the distribution problems.

On Wednesday morning, the shares were trading up 37.5p, or 7.5%, at 540p.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories



  • An undated file photo posted on 27 August 2014 by the Raqqa Media Center of the Islamic State group, showing IS fighters waving the group's flag from a damaged government fighter jet in Raqqa, Syria.Adapt or die?

    IS militants seem to be changing tactics after air strikes

  • signClean and tidy

    Things that could only happen in a Hong Kong protest

  • Child eating ice creamTooth top tips

    Experts on ways to encourage children to look after their teeth

  • Almaz cleaning floorAlmaz's prison

    Beaten and raped - the story of an African servant in Saudi Arabia

  • Train drawn by Jonathan Backhouse, 1825Original 'geeks'

    What hobby did this drawing start in 1825?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.