Superdry strikes a cautious note as it warns spiralling costs could hit profits

Power couple: Superdry boss Julian Dunkerton with his wife Jade Holland Cooper

Superdry struck a cautious note yesterday as it warned spiralling costs could hit profits. 

The clothing firm also noted sales have not yet returned to pre-pandemic levels and it did not expect them to do so during its current financial year. 

The bleak assessment came despite Superdry swinging to a £21.9m profit for the year to the end of April, from a £12.6m loss 12 months earlier. 

Sales rose 9.6 per cent to £609.6m as shoppers returned to stores following the end of lockdowns. 

Online sales fell 23 per cent as customers became less reliant on internet shopping, although this was offset by the surge in revenues from stores. 

The shares jumped 10.9 per cent, or 11.2p, to 113.6p. 

Despite the profit, Superdry remained ‘cautious’ as it said rising costs for consumers and businesses, exacerbated by war in Ukraine, were likely to ‘put pressure’ on profit margins. 

Chief executive Julian Dunkerton said: ‘These are exceptional times for retail and for the economy more generally, and like all brands we’re having to work harder than ever to drive performance.’