THE owner of the Superdry fashion label shocked the City as it warned that stock supply problems would wipe millions of pounds off this year’s profits.
SuperGroup, which has 70 stores in the UK branded as Superdry and Cult, said IT problems with an upgrade to its warehouse in Barnwood, Gloucestershire, had caused a “significant” reduction in the amount and range of sizes reaching its UK stores. It said the problems would not be resolved until November.
Profits for this financial year to April will be between £6m and £9m below forecasts due to lost sales and temporary warehousing, the group added.
