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Sept. 21, 2020, 3:07 a.m. EDT

Superdry loss widens on pandemic hit

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By Matteo Castia

Superdry PLC reported Monday a widened pretax loss for fiscal 2020 as the pandemic slashed the business in the final quarter of the year.

The British fashion brand posted a pretax loss of 166.9 million pounds ($215.6 million) for the year ended April 25 compared with a loss of GBP89.3 million in fiscal 2019.

Revenue fell to GBP704.4 million from a restated GBP871.7 million the prior year.

The company said trading in the first quarter of fiscal 2021 was stronger than expected, but it still expects full-year like-for-like sales to remain negative.

No final dividend was declared for the year in an effort to preserve liquidity during the crisis.

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