Superdry returns to profit in FY25 as cost savings come to fruition

Core Insights - Superdry's group revenue for FY25 was £374.6 million, a decrease from £488.6 million in FY24, attributed to planned store closures, disciplined discounting, and a restructured wholesale network [1] - The company reported significant operational progress, with a gross margin of 58.2%, an increase of 3.2 percentage points, despite softer top-line sales [2] - Adjusted profit before tax was £33.8 million, a turnaround from a loss of £48.3 million in FY24, driven by over £130 million in SG&A expense savings and targeted cost reductions [3] Financial Performance - Superdry's adjusted profit after tax reached £33.3 million compared to a loss of £50.8 million in FY24, indicating a strong recovery [3] - The stores channel revenue declined by 22% to £175.2 million due to the exit of loss-making sites and reduced promotional activity [4] - The ecommerce channel saw a 25% decline to £109.0 million, impacted by reduced promotions but improved channel-level EBITDA through better marketing efficiency [5] Restructuring and Strategy - The wholesale channel revenue decreased by 23% to £90.4 million, reflecting a shift towards profitable franchise stores and the removal of certain territories [5] - Superdry's restructuring plan included rent reductions across 36 stores and the extension of debt facilities to June 2027 [6] - The company raised £10 million in equity in June 2024 and an additional £4.3 million in September 2025 to enhance liquidity, alongside completing 47 store closures [6]