After beginning the day in the red, London shares are now up marginally. Click here for The Trader Nicole Elliott's latest views on the markets.
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Superdry (SDRY) shares have lost roughly a fifth of their value this morning after a profit warning from the company. Management has blamed the recent heatwave, as well as “the well-publicised” challenges facing some of its trading partners for a potential £10m knock to full-year profits. The group says it is still pursuing an 18-month transformation programme aimed at reducing the company’s reliance on heavier weight product, and accelerating expansion into categories such as dresses, skirts and denim. We remain sellers.