Superdry sees Q3 sales drop 1.5% on warm weather

Fashion retailer Superdry said in-store and online sales were "subdued" in the third quarter, due to the unseasonably warm weather and problems with its mix of products.

Group revenue fell 1.5% to £269.3m in the 13 weeks to 26 January 2019.

"Superdry's performance has remained subdued during quarter three. We continued to be impacted by the ongoing product mix and relevance issues we have previously highlighted and by the lack, until the end of quarter three and the start of quarter four, of any prolonged period of cold weather in our key markets," said Euan Sutherland, CEO.

The company said its transformation plans, outlined on 12 December last year, were also gathering pace. It said it would announce a full update in late March, but noted that early results from its product diversification and innovation programme would be seen in the 2019 autumn/winter collection and in the launch of kidswear.

At 8:02am: (LON:SDRY) Superdry Plc share price was -14.7p at 493.8p