Britain’s Superdry, on Friday, cut its profit forecast for the year and now expects to broadly break even as its wholesale segment underperformed amid rising uncertainty for the last quarter.
The fashion retailer has earlier forecast an adjusted profit before tax of between £10 million and £20 million ($12.37 million to $24.74 million) for the year.
By Radhika Anilkumar; Editor: Savio D’Souza
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Superdry Shares Leap as UK Fashion Brand Returns to Profit
The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rose as much as 13 percent in London.
