Superdry (SDRY)

Sector:

Personal Goods

28.45p
   
  • Change Today:
    -1.90p
  • 52 Week High: 109.40
  • 52 Week Low: 15.50
  • Currency: UK Pounds
  • Shares Issued: 99.09m
  • Volume: 1,608,493
  • Market Cap: £28.19m

Superdry pulls out of China JV, expects £6m writeoff

By Michele Maatouk

Date: Thursday 18 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Clothing retailer Superdry said on Thursday that it was pulling out of its joint venture in China and expects a £6m writeoff as a result.
The company said it had reached an amicable agreement with its current local partner, Trendy International, to exit their joint venture, leaving Superdry "free to determine how it will trade in China in the future".

The group said its decision was part of a broader transformation plan, putting in place the right infrastructure and business models in each of its core markets, and has been accelerated by the impact of the Covid-19 pandemic.

The joint venture was formed in 2016 and has 25 owned and 41 franchise stores in China. The owned retail stores are due to close by the end of August, while the franchise partners in China will end their relationships by the end of the year.

Superdry expects that about £6m in total, of which £3m was recognised at HY20, will be written off in its FY20 accounts as a result. No further costs are expected to be incurred.

Chief executive Julian Dunkerton said: "I believe that China represents a huge opportunity for Superdry in the longer term. As the way people are shopping there changes, it makes sense for us to shift our focus to the growth channels of online and wholesale.

"Combined with the improvements we are making to our product ranges, I am confident that this is the right time for us to take back full control of our brand in China and to re-position our operations in the region to deliver profitable future growth for Superdry."

At 1355 BST, the shares were down 4% at 150.94p.

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Superdry Market Data

Currency UK Pounds
Share Price 28.45p
Change Today -1.90p
% Change -6.26 %
52 Week High 109.40
52 Week Low 15.50
Volume 1,608,493
Shares Issued 99.09m
Market Cap £28.19m

Superdry Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
13.26% below the market average13.26% below the market average13.26% below the market average13.26% below the market average13.26% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Price Trend
84.69% below the market average84.69% below the market average84.69% below the market average84.69% below the market average84.69% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income Not Available
Growth
37.59% below the market average37.59% below the market average37.59% below the market average37.59% below the market average37.59% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 2
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Superdry Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Dec-19 18-Jul-19
Paid 24-Jan-20 20-Sep-19
Amount 2.00p 2.20p

Trades for 28-Mar-2024

Time Volume / Share Price
14:35 300 @ 28.45p
14:35 10 @ 29.00p
14:35 7,500 @ 29.00p
14:35 10,000 @ 29.00p
14:35 25,177 @ 29.80p

Superdry Key Personnel

CEO Julian Dunkerton
Chair Peter Sjölander

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