Superdry, the UK-based clothing retailer, has seen its group revenue fall by 21 per cent to clock £556.5 million for the year ended 24 April 2021.
The fall wasn’t surprising considering Superdry was one of those many fashion retailers to have been hit by the pandemic.
However, thanks to e-commerce surge, the numbers improved in the fourth quarter with revenues rising by 0.8 per cent.
Importantly, Superdry’s e-commerce for the year rose by 33.8 per cent to £202.9 million. Store sales, however, dropped by 50.9 per cent – accounting for £140.9 million of sales.
Even in the last quarter, the clothing retailer’s e-commerce saw a strong year-on-year jump of 26.6 per cent to £40.9 million.
The quarter also witnessed the retailer’s wholesale revenue shoot up by 13.5 per cent to £63.1 million.
Notably, Superdry ended the year with net cash of £39.4 million.
Expressing delight, Julian Dunkerton, CEO, Superdry, said “Our strengthened ecommerce presence has helped mitigate the impact from enforced closures of our stores. We returned to revenue growth in Q4, and our commitment to a full price stance over the period has seen significant online margin improvement.”
Superdry, founded in 2003, generated £871.7 million in 2019.