Superdry to miss on profit target

Superdry will miss its profit target for the year after it was hit by bad weather, declining margins and a multimillion-pound impairment charge on a flagship store.

The retailer previously said its maximum full-year profit could be £100.6 million, but noted yesterday that profits may now be as low as £96.5m. In the final quarter, Superdry’s store sales fell by 6 per cent to £86.1m.