Superdry’s turnaround plan threatened as Covid-19 dampens clothing demand

12 May 2020 (Last Updated May 12th, 2020 15:30)

Superdry’s woes were amplified in its final quarter of FY2019/20, with the impact of the COVID-19 pandemic stifling demand for clothing and footwear. While its CEO Julian Dunkerton has had significant plans to revitalise the company, the outbreak has put a major spanner in the works, with revenue declining by 36.9% during Q4 FY2019/20, resulting in sales for the full year falling by £166.2m to £705.5m.

Superdry’s woes were amplified in its final quarter of FY2019/20, with the impact of the COVID-19 pandemic stifling demand for clothing and footwear. While its CEO Julian Dunkerton has had significant plans to revitalise the company, the outbreak has put a major spanner in the works, with revenue declining by 36.9% during Q4 FY2019/20, resulting in sales for the full year falling by £166.2m to £705.5m.

Though the retailer has recorded significant growth in its online channel throughout April, following closures of stores across Europe, USA and UK, this has only been enough to offset roughly a third of its usual offline revenue, so it must increase its use of social media and digital marketing communications to drive website traffic further.

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