Updates

Superdry

February 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Superdry remains my key retail play for GP3. Latest H1 results were challenging as expected with trading impacted by store closures (23% of own store trading days lost) and gross margin decline of 4.6%, mainly as a result of the brand refresh. The numbers are distorted by extended government support, rent waivers etc and are pretty meaningless. Three keynotes are (a) a marked improvement in revenue run-rate seen at the back end of Q2 following the AW20 launch; (b) a record level of engagement online and (c) net cash of £55m, which together with a £70m asset backed loan facility provides £125m of liquidity. Keep on buy list - lockdown will end and I think this will emerge a big winner. ...

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Kape

Victoria - Reports best ever Q3

Superdry (April 2023)

Superdry (February 2023)

Superdry (January 2023)

Superdry - Outperforming the market (November 2022)

Superdry - Still on track for first profits since 2019 (June 2022)

Superdry - Eps of 20p and 38p forecast for next two years (February 2022)

Superdry - Clear evidence of brand turnaround (October 2021)

Superdry - Tripled but could double again (June 2021)

Superdry - E-commerce going gangbusters (from +4% after 7 weeks of Q2 to +52% for the last 6 weeks) (December 2020)

Superdry (October 2020)

Superdry - Q1 trading better than initial expectations (September 2020)

Superdry (December 2019)

Superdry (August 2018)

Superdry (June 2018)

Superdry - Free cash generation about to balloon six-fold (February 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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