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Superdry keeps landlords on side

The clothing retailer's online sales are returning
May 7, 2020

Superdry (SDRY) shares jumped11 per cent after a positive trading update. The retailer has net cash of£39.8m and the majority of its short-term rent deferral requests, worth over £20m, have been accepted. Superdry has also rescheduled its stock intake, lowering purchases by 20 per cent. It has also confirmed most of its autumn/winter wholesale order book

IC TIP: Sell at 132p

Online sales are returning, nearly doubling in the last four weeks to around £3.7m per week, while Superdry expects three-quarters of its retail franchise estate to be open by the end of the month. Full-year revenues are down 19.1 per cent, while fourth quarter turnover decreased 36.9 per cent.