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

By Steve Moore | Wednesday 3 May 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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?

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