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Peak trading performance at Superdry was “lower than expected”’ as the retailer battled unprecedented levels of discounting on the high street, subdued consumer demand and shortages of bestselling product.
Superdry has swung to a loss before tax of £4.2m for the 26 weeks to 26 October, from a profit of £26.4m during the same period in 2018, in a ”year of reset” for the business.
Revenue has slumped at Superdry in the 26 weeks to the end of October, in what the retailer said was an “expected year of reset” amid legacy issues at the business.
Black Friday has become a fixture on the fashion retail industry’s promotional calendar. But as the discounting activity becomes longer and deeper, and some retailers and consumers shun the event altogether, its future has become blurred.