Su­perdry in green push de­spite heavy loss

The Daily Telegraph - Business - - Business - By Laura Onita

SU­PERDRY’S boss wants the fash­ion chain to be the world’s “num­ber one listed sus­tain­able brand” de­spite slump­ing to a hefty an­nual loss.

Ju­lian Dunker­ton said sus­tain­abil­ity cre­den­tials were his top pri­or­ity as con­sumers be­came in­creas­ingly con­scious of where and how clothes were made. “This is no gim­mick,” he said. “We’re em­brac­ing and push­ing our sus­tain­abil­ity cre­den­tials in the world. It has to be em­bed­ded in what we do.”

The push is even ex­pected to save Su­perdry some cash, said Mr Dunker­ton, the brand’s founder who re­turned as boss last year. Su­perdry will now make its car­rier bags in the UK in a move ex­pected to save it £700,000.

The re­tailer posted a pre-tax loss of £167m for the year to April 25 – up from last year’s £89.3m loss. The forced clo- sure of all its stores pushed rev­enue down al­most a fifth to £704m, al­though on­line or­ders soared. Mr Dunker­ton in­sisted the chain had “plenty of cash” to see it through the cri­sis.

Al­most all branches have now re­opened. How­ever, Su­perdry has re­sorted to more dis­count­ing to shift stock.

The com­pany’s shares fell 19.2p to close at 132.7p.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.