Superdry revenue rises as Brits return to stores

// Superdry posts group revenue of £600.7m for the year to April 23, 2022
// Store revenue was up 59.8% year on year to £224.5m

Superdry has recorded a group revenue of £600.7 million for the year to April 23, 2022 – an increase of 8.1% on 2020/21, but a 14% drop on the pre-pandemic 2019/20 financial year.

Store revenue was up 59.8% year on year to £224.5 million, representing a 21.8% fall on a two-year comparison.

Online revenue dropped by 24% year on year to £153.4 million, which Superdry said reflected “an element of channel shift back to physical trading and our reduced promotional activity, in line with our strategic focus on full-price sales”.

READ MORE: Sosandar hires former Superdry executive as non-executive director

Wholesale revenue increased at a steady 4.2% year on year to £222.8 million – “despite the prolonged disruption in European markets” – but this represented a 16.1% fall on a two-year comparison.

“Despite the ongoing tough trading conditions and turmoil in the market, our focus on full-price trading will deliver a strong gross margin improvement for FY22,” Superdry CEO Julian Dunkerton said.

“We are conscious of the cost-of-living pressures on consumers, meaning that now, more than ever, we must continue to deliver product that stands for what is important to them: quality, style and sustainability at great value.

“As we head into FY23 we remain cautious on the macroeconomic outlook and the impact of inflation, but are confident that our strategy is positioning the brand for future success.”

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