The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Struggling fashion brand Superdry has hired turnaround and restructuring firm Interpath as it battles to cut costs following a series of profit warnings.
In a statement Superdry, which is led by founder Julian Dunkerton, said Interpath will advise on its turnaround and “ensure we have the right cost base and structure in place for future success.”
The UK high street retailer, known for its logo T-shirts and bright colors, has suffered from shipment issues in its wholesale business, and has been trying to improve its performance. In December, it secured a loan from specialist lender Bantry Bay Capital, which is backed by the US activist Elliott Investment Management.
The shares have lost a quarter of their value over the past 12 months. They fell 21 percent on Jan. 27 after Superdry cut its full-year outlook, saying that pretax profit would be wiped out.
Sky News earlier reported the appointment of Interpath.
By Sabah Meddings
Learn More
Superdry Cuts Full-Year Profit Forecast to Breakeven
Britain’s Superdry, on Friday, cut its profit forecast for the year and now expects to broadly break even as its wholesale segment underperformed amid rising uncertainty for the last quarter.
The luxury resale platform’s CEO John Korryl spoke with BoF exclusively about new revenue streams, consignment updates and other ways of reaching profitability after a decade of losses.
Join us on Thursday, April 13 at 16:00 BST / 11:00 EDT for a special #BoFLIVE Masterclass unpacking our latest case study The Complete Guide to Managing Markdowns with BoF retail correspondent Cathaleen Chen.
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
Offloading excess merchandise has never been more complex and critical for every brand and retailer, regardless of their size or category. BoF examines the best practices along every stage of the process, from planning to liquidation.