Superdry – high interest rate “secondary lending facility”, how’s the previous “brand is recovering well” going?!

Previously writing on branded clothing, accessories and footwear company Superdry (SDRY), in May with the shares falling to around 80p I questioned it arguing “the brand is recovering well… believes that the equity raise, along with the suite of measures… will provide the stable base necessary to underpin future success”. And today… a “Secondary lending facility of up to £25m” announcement. After little more than three months, brand recovery and equity raise and related measures now not providing the necessary stable base then?!

Superdry (#SDRY) – raises £12m via a placing and REX retail offer at 76.3p per share

Superdry – discounted equity raise, argues “the brand is recovering well”...so what about the withdrawing of profit guidance just last month?!

Previously writing on branded clothing, accessories and footwear company Superdry (SDRY), last month with the shares falling below 90p I wrote the consumer landscape very ‘challenging’ for it. Attempted equity raise ahoy? – concluding that, with its trading certainly not providing a strong platform to undertake a fundraise, natch, at a heading towards £70 million market cap (will thus the mooted fundraise even be sufficient?), still a Sell. It has now announced a proposed equity raise… and the shares are currently falling to around 80p. So what’s the latest detail?

Superdry (#SDRY) – confirms it is in equity fundraising discussions

Superdry (#SDRY) – Increased borrowing availability level with Bantry Bay whilst working to complete APAC business sale

Superdry – the consumer landscape very ‘challenging’ for it. Attempted equity raise ahoy?

Previously writing on branded clothing, accessories and footwear company Superdry (SDRY), last month with the shares rising back above 110p I asked just how challenging is the “consumer landscape” for it?, with it still talking of additional steps to further strengthen its balance sheet despite a $50 million disposal agreement. Now a trading statement… and the shares currently down below 90p.

Superdry (#SDRY) – warns on lack of profit, “considering an equity raise of up to 20% of the company’s issued share capital”

Superdry – argues agreement “a fantastic opportunity to expand its global reach”, but just how “challenging” is the consumer landscape for it?!

Branded clothing, accessories and footwear company Superdry (SDRY) “is pleased to announce that it has signed an IP Transfer Agreement with Cowell Fashion Company Ltd… for the sale of Superdry’s intellectual property assets in certain countries within the Asia Pacific region, for an upfront fee of $50 million USD, payable in cash”. With Superdry’s market cap below £90 million prior to this announcement, is it good news?

Superdry (#SDRY) – agreement for sale of Superdry brand in Asia Pacific markets for $50m

Superdry (#SDRY) – founder & CEO Julian Dunkerton “no plans… at the moment” to take company private

Superdry – interims argue that the “brand has real momentum”. Er, does it?!

Previously writing on branded clothing, accessories and footwear company Superdry (SDRY), a year ago with the shares down to around 230p I questioned its argued “clear signs of brand and financial recovery” and continued to avoid – considering you’d really have to be a firm believer in returned CEO Julian Dunkerton’s recovery plans to buy at that juncture. With the shares having last closed at 149.2p, what of now results for the company’s half-year ended 29th October 2022 and trading since?

Superdry (#SDRY) – H1 increased loss and net debt, FY adj. profit downgrade to “broadly breakeven”

Superdry (#SDRY) – notes negotiations with “specialist lending provider” Bantry Bay Capital, “remain in discussions with other lenders”

Superdry (#SDRY) – emphasises FY “return to profitability”, but net debt now up to £38.9m

Superdry (#SDRY) – Q4 & FY update, “footfall remains significantly below pre-Covid levels”

Superdry – interims, are there “clear signs of brand and financial recovery”?

Clothing, accessories and footwear company Superdry (SDRY) has announced results for its half-year ended 23rd October 2021 and a trading update for the subsequent 11 weeks, emphasising “clear signs of brand and financial recovery”. So what’s the story with the shares currently at circa 230p in response, 8% lower!...

When Clothing Sales Storm Back You Might Want to Look at Superdry

Hello, Share Swampers. As it’s been pouring down almost non-stop in my seaside town during the festivities, I thought I might look at Superdry (SDRY). I think it might see its shares rise after a torrid time during the worst days of Covid. Superdry is in the clothing game. But though it sells waterproof gear and footwear, it has a much wider range than that.

Superdry (#SDRY) – H1 revenue -25.3% on two year basis, more recent 8 weeks -17.2% on same basis

Superdry (#SDRY) – FY ended 24th Apr even adj. loss, 18 weeks to 28th Aug revenue +1.9%

Superdry (#SDRY) – Q4 to 24th April revenue +0.8% YoY, FY -21%