Superdry's full-year figures were bad, as expected, but the company said its "reset year" is starting to yield results as its shifts from a buyer-led approach, boosts web sales, increases marketing and reinvents itself.
Outdoor gear specialist Mountain Warehouse is continuing to grow and has just reported its 22nd consecutive year of rising sales as the company's store expansion programme delivers rewards in all geographies.
Superdry's trading update showed a sharp decline in Q4, but new its new management said it's acting fast to get it back to generating sales rises, although a profit warning means it won't be a quick transformation.
Shares in Superdry Plc fell more than 11 percent on Wednesday after founder Julian Dunkerton narrowly forced his way back into the company, which sparked the exit of most of its board members, including top executives.
Superdry co-founder Julian Dunkerton needed 50% shareholder support to get back onto the struggling retailer's board and he has won his battle, getting 51.15% of the votes. The exec team has quit and he's now CEO.
Superdry co-founder Julian Dunkerton’s claim that he’s winning City support for his comeback bid seemed to have some justification on Monday as it was revealed that two large shareholders are backing his move.