Retailer Superdry issues another profits warning as sales weaken

Superdry has tried to raise funds and rein in costs, by curbing its digital marketing spending and exiting the US wholesale business

For the six months ended October 28, its retail sales were down 13% while wholesale fell by 41.1%.

UK fashion retailer Superdry warned of a hit to annual profit, as unusually warm weather hurt sales of its autumn/winter collection and consumers curb spending amid a cost-of-living squeeze.

Shares in the company, known for its jackets and clothing inspired by American vintage styles and Japanese-inspired graphics, fell as much as 32.5% to an all-time low of 28.2 pence.