UK’s Superdry positive in second half as jacket sales rise to record | Daily News Byte


Dec 22 (Reuters) – Britain’s Superdry ( SDRY.L ) signaled a strong start to the second half on Thursday as online jacket sales hit a record high amid a Black Friday shopping spree and a recent spell of cold weather, sending its shares up around 17 . % more.

The fashion retailer also reported revenue growth of 3.6% in the first half, but struck a cautious note on the outlook as the sector is driven by rising costs and a worsening cost-of-living crisis in the UK.

“We are under no illusions that consumer confidence is fragile and the picture is unlikely to change quickly,” Superdry chief executive officer Julian Dunkerton said.

Superdry, known for its sweatshirts, hoodies and jackets, said margin dilution was more than 200 basis points during the first half.

The company also said it has agreed to a three-year loan facility of up to 80 million pounds ($96.14 million) with lender Bantry Bay Capital Ltd.

($1 = 0.8321 pounds)

Reported by AB Jose Koilparambil in Bengaluru; Edited by Devika Shyamanath

Our Standards: The Thomson Reuters Trust Principles.


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