Superdry returns to profit but consumers begin reining in spending

New figures show British retailers saw their slowest sales growth last month since shops reopened after Covid-19 lockdowns

Superdry made an adjusted profit before tax of €25m versus a loss of €14.4m in the previous year.

Fashion group Superdry returned to profit in the year to April 30 but said it was cautious on the near-term trading outlook as the UK and Europe's retail market remained under severe stress over rising inflation and the cost-of-living crisis.

The company, best known for its sweatshirts, hoodies, jackets and coats, said its current asset-backed lending facility of up to £70m (€80m) is due to expire at the end of January 2023.