Superdry has announced it will delay posting its full-year results following “recent management transition”.
The fashion brand was expected to update the market for the 52 weeks to April 27 on July 4 but will now post its results on July 10.
In a pre-close statement posted last month, Superdry announced it would be making a “non-cash onerous lease and store impairment provision” in its full-year results which will benefit the underlying profit before tax in this financial year.
As a consequence of the ongoing work relating to the “complexity” of the accounting issues and the recent management change, Superdry has agreed with its auditors that it is appropriate to delay its full-year results.
After Superdry founder Julian Dunkerton was re-elected to the board in April, almost the entire board resigned or handed in their notice, including chair Peter Bamford and chief executive Euan Sutherland.
The struggling fashion retailer issued a profit warning in May after cautioning full-year profits would come in “lower than the current range of market expectations”.
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