UK’s Superdry cut its profit forecast for the year on Friday, but now expects it to break even across the board after the wholesale sector underperformed amid heightened uncertainty in the previous quarter.
The fashion retailer had expected a pre-tax adjusted profit of £10m to £20m ($12.37m to $24.74m) this year.
By Radhika Anilkumar.Publisher: Savio D’Souza
Superdry shares soar as British fashion brand turns profit
The retailer, known for its logoed T-shirts and bright colors, reported a pre-tax adjusted profit of £21.9m ($24m), compared with a loss of £12.6m a year earlier. Stocks in London he rose as much as 13%.