- British fashion group Super dry ADR SEPGY has returned benefit in fiscal year 22.
- The company reported adjusted profit before tax of £21.9m for FY22 versus a loss of £(12.6)m in FY21.
- Total revenue rose 9.6% year-on-year to £609.6 million, mainly due to the end of forced store closures and the lifting of restrictions in key markets.
- Gross margin increased 350 basis points year-over-year to 56.2% and inventory fell 2.6 million Y/Y to 12.4 million units.
- “We remain cautious about the near term as we continue to face a challenging macroeconomic environment, high inflation rates and the potential impact this may have on consumer spending,” the company said in a statement.
- Superdry added that rising cost inflation, exacerbated by the conflict in Ukraine, is likely to put pressure on operating margins in each of its territories.
- It also stressed the importance of refinancing its asset-backed lending facility, which expires at the end of January 2023.
- also read: The Abercrombie & Fitch brand remains healthy with a more resilient customer base, says an analyst
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