Britain’s Superdry on Thursday signalled a strong start to the second half as online jacket sales hit a record high amid the Black Friday shopping spree and a recent spell of colder weather, sending its shares about 17 percent higher.
The fashion retailer also reported first-half revenue growth of 3.6 percent, but struck a cautious note on outlook as the sector steers through rising expenses and a worsening cost-of-living crisis in the UK.
“We are under no illusions that consumer confidence is fragile and that the picture is unlikely to change quickly,” said Superdry chief executive officer Julian Dunkerton.
Superdry, best known for its sweatshirts, hoodies and jackets, said margin dilution stood at more than 200 basis points during the first half.
The company also said it had agreed to a loan facility of up to £80 million ($96.14 million) for three years with lender Bantry Bay Capital Ltd.
By Aby Jose Koilparambil; Editor: Devika Syamnath
Superdry Shares Leap as UK Fashion Brand Returns to Profit
The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rose as much as 13 percent in London.