Superdry co-founder Julian Dunkerton has warned the retailer is “on the wrong path” after a difficult start to the year.
Dunkerton, who launched Superdry in 2003 and left the board in March this year, told the Sunday Times he wanted to return to the business after it suffered “probably the most disastrous eight months you can imagine”.
He told the newspaper: “I’ve been in this industry for 30 years, and I left a brilliant business and a brilliant brand, and it’s just taken a wrong direction.”
Superdry issued a profit warning earlier this month. It said warm weather would reduce profits by £10m hit for the full financial year. Historic currency hedging mechanisms were also noted to have failed to provide the anticipated level of protection, leading to an additional foreign exchange cost of £8m across the year.
Peter Bamford, chairman of Superdry said: “The board of Superdry has huge respect for Julian Dunkerton as an entrepreneur and the founder of the business. Superdry is an ambitious, global, multi-channel brand and the board believes that Julian’s view of strategy has not evolved with the needs of our business.”