Superdry shares have plummeted to a record low following the brand’s recent plunge into the red.
The fashion retailer’s shares dropped around a fifth to 43p during one point on Monday, marking its lowest ever point since first floating on the market in 2010.
The brand’s shares were temporarily suspended back in August as the retailer delayed its full-year results.
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The brand recently revealed it had sunk to a pre-tax loss of £148.1m in the year to 29 April 2023, down from a £22.4m pre-tax profit the year before.
Its poor performance was attributed to extreme weather in Europe, the cost of living crisis and the decline in real wages.
Superdry warned that it did not expect to see “significant sales growth” this financial year, as it prioritises cutting costs and margin improvement under its turnaround programme.
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