Superdry reports 50.5 million pounds profit following comprehensive restructuring

Superdry Limited (formerly Superdry PLC) has reported a statutory profit after tax of 50.5 million pounds for the 52-week period ended April 26, 2025, marking a significant turnaround from the 67.7 million pounds loss recorded in the prior year.

The fashion retailer's financial recovery is attributed to the successful implementation of a comprehensive restructuring plan and stringent cost-saving measures.

The adjusted profit before tax for the Group was 33.8 million pounds, vastly improved from a loss of 48.3 million pounds in the previous year.

This surge in profitability was primarily driven by, the company said in a filing, realisation of over 128 million pounds in cost savings, an increase in gross margin by 3.2 percentage points to 58.2 percent and a strategic "full price trading stance" that limited discounting.

Strategic transformation and delisting

The financial period was dominated by the execution of a crucial Restructuring Plan (RP), sanctioned in June 2024, to secure the company's long-term future.

Key components of this plan included the closure of 47 unprofitable locations and securing rent reductions on 36 UK sites.

An equity raise in June 2024 injected a gross 10 million pounds into the business, followed by a further 4.3 million pounds in September 2025. Financing agreements with lenders Bantry Bay Capital and Hilco Capital were amended and extended, co-terminating in June 2027.

As part of the strategy to reduce costs and implement changes away from public scrutiny, the company delisted from the London Stock Exchange on July 15, 2024. Following shareholder approval, the company re-registered as a private company limited by shares on August 11, 2025, changing its name from Superdry PLC to Superdry Limited.

Sales performance and going concern risk

Despite the operational improvements, Group revenue declined 23 percent to 374.6 million pounds due to the store closure program, the deliberate decision to limit discounting, and a focus on profitable wholesale franchises.

Retail Sales (stores and ecommerce) declined 24 percent to 284.2 million pounds. Wholesale sales decreased 23 percent to 90.4 million pounds.

However, the directors noted that while the accounts continue to be prepared on a going concern basis, a material uncertainty exists due to continued challenges in the macro environment and the need for key mitigations to be actioned with certainty. The board is actively exploring options for a further 20 million pounds to 30 million pounds improvement in liquidity headroom, including a further equity raise and the potential sale of intellectual property or freehold properties.