SUPERGROUP, the owner of trendy clothing label Superdry, will be looking to reassure the market this week about its plans for growth after warning on profits just two months ago.
The firm, which began life as a market stall in 1985, said in May that profits would be at the lower end of its £61.1 million to £65.2m range. This pushed its annual market consensus to £61.7m, from £63.1m.
Although its shares slumped, brokers at Cantor Fitzgerald said they feel the stock has been oversold, and they perceive the brand as still being “in vogue”. They added that the retailer has been revising its offering, for example broadening its range of premium items, and it has bought back its Scandinavian distributor.
Additionally, analysts at Investec see next year as a “European roll-out story” for the company, which has 500 stores globally. They believe it will exceed the 100,000sq ft of retail space that it plans to open this year.