Superdry founder promises revival after £85m loss

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Superdry founder Julian Dunkerton says he is trying to “steady the ship” after the fashion retailer reported an £85m annual loss.

Mr Dunkerton returned to the firm in April, after a lengthy campaign against the previous management, who he said had a “misguided” strategy.

As well as reporting a steep loss for last year, Superdry warned that sales could fall in the current financial year.

In 2018 it reported profits of £65.3m.

Superdry said it expected this to be a “year of reset”.

Before his return Mr Dunkerton said Superdry had abandoned its earlier approach as a “design-led business with innovative creative input, a strong brand identity and an innate understanding of the customer”.

Superdry, which started out as a market stall in Cheltenham 16 years ago, was set up by by Mr Dunkerton and James Holder, and went on to enjoy huge commercial success.

But its shares have lost more than 70% over the past year amid a tough retail backdrop and in March the company announced it would cut up to 200 jobs.

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