Superdry loses fourth finance boss in five years as losses widen.

Superdry, a British clothing brand, has experienced a 23.5% decrease in revenue during the first half of fiscal 2024, primarily due to challenging market conditions. Unseasonably warm weather and underperformance in the wholesale segment negatively impacted sales, resulting in a revenue drop to £219.8 million ($279.3 million). The company's CFO, Shaun Wills, will be stepping down and will be replaced by Giles David as interim CFO. Despite the revenue drop, Superdry is working on a turnaround program and has taken steps to address their financial situation, such as a secondary lending facility with Hilco Capital and selling intellectual property rights in Asia and the Pacific.

January 26, 2024
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