Superdry fashions a recovery

SUPERDRY’S boss says the fashion retailer is ‘turning the corner’ on the pandemic as it prepares to open a flagship store in Oxford Street.

The group yesterday revealed it had narrowed losses from £166.9m to £36.7m in the year to April 24, despite revenues falling 21pc to £556m.

Superdry lost nearly 40pc of store trading days due to the Covid-19 crisis.

But chief executive and founder Julian Dunkerton said things were looking brighter after the firm returned to growth in the fourth quarter.

Dunkerton also brushed off supply chain problems affecting retailers, saying he had ‘no issue’ with the upcoming Christmas period, which some have warned could see shortages of toys, foodstuffs and other items.

At the same time, Superdry is preparing to open its new 22,000 sq ft store in Oxford Street. The outlet will have a social media ‘influencer space’, where stars can photograph themselves with upcoming collections and post content online for their followers.