Superdry losses widen as Christmas fails to revive fashion sales 

Elsewhere, WH Smith saw its sales benefit from festive travel, while H&M is said to be planning to close stores in Spain 

Superdry reported widening losses after Christmas sales failed to revive performance at the struggling fashion retailer. The British retailer said mild weather and heavy discounting hit sales. Superdry, which also announced the departure of its chief financial officer, already said in September that it expects no revenue growth in the current year.

The company issued a profit warning last month, saying that performance was “significantly below” management expectations after a mild autumn and a late start to its end-of-season summer sale. Superdry is said to have hired advisers at PwC to seek out debt-raising options. The business already has expensive borrowing from lenders of last resort including Bantry Bay Capital and Hilco Capital.