Superdry has delayed its full-year results following a recent profit warning, blaming the “complexity” of a store review and recent management changes.
The company’s annual results, which had been due on 4 July, have now been postponed until 10 July. Superdry said the it is working out the impact of changes in accounts from a store review, under which it announced provisions for onerous store leases and store write-downs.
The retailer has agreed with its auditors that it will delay reporting its preliminary results for a short period to allow that work to be completed.
Superdry warned last month that full-year underlying profit before tax would be lower than current market expectations following “weak” wholesale and ecommerce performance.
In a pre-close statement for the fourth quarter, the 13 weeks to 27 April, it said actions to address the under-performance were under way, and more details would be announced in its full-year results on 4 July.