*
skip to Main Content
enquiries@thearmchairtrader.com

So far in 2019, Superdry shares have made precious little progress in recovering the steep losses incurred during its profit warning-laden 2018. Opening at £4.71, Superdry shares currently finds themselves at £5.04, having struck a 3-month peak of £5.71 in early March.

Though it hasn’t moved much, it has already been a year full of drama. First, to set the scene, came February’s third quarter results. Blaming the ‘unseasonably warm weather’ – a BIG issue for Superdry given its reliance on winter wear like its jackets and hoodies – the company posted a 1.5% decline in group revenue to £269.3 million, with an even more severe 8.5% plunge in in-store sales. Then-CEO Euan Sutherland admitted that the retailer’s performance had ‘remained subdued’ during Q3, but that it is ‘pleased’ with the early progress made with its transformation programme.

However, that wasn’t enough for Superdry co-founder Julian Dunkerton, who had stepped down as CEO back in 2015 and left the company in 2018. Dunkerton effectively staged a coup at a shareholder meeting he had forced through at the start of April, securing a seat on the board thanks to a 51.15% winning vote.

This caused chairman Peter Bamford and CEO Sutherland to resign with immediate effect, the pair joined by CFO Ed Barker and head of the remuneration committee Penny Hughes. Completing a mad day of corporate sniping, Dunkerton took over as interim CEO, with ally Peter Williams – who was also voted onto the board by a margin of 51.15% – as chairman.

Thursday’s update, then, could be enlightening, as investors wait and see what plans Dunkerton has for his company.

Analysts are forecasting a 4.6% increase in fourth quarter revenue, which, at the very least, is a big improvement on Q3 (not that much, if any, of that can really be attributed to the new management).

Superdry shares have a consensus rating of ‘Hold’ alongside an average target price of £9.21.

This article is brought to you in association with Spreadex. All opinions expressed in this article are from the author and do not necessarily represent the opinions of The Armchair Trader. You can find out more about Spreadex products and services here, or find more articles from Connor Campbell here.

Share this article

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Sign up for our daily morning digest

Stay ahead with our latest market analysis and insight, direct to your inbox every weekday morning at 8am

  • This field is for validation purposes and should be left unchanged.

 

Market insight and analysis, direct to your inbox

  • This field is for validation purposes and should be left unchanged.

 

Back To Top