UK’s Superdry hires advisory firm for cost cuts after profit warning


March 10 (Reuters) – British fashion retailer Superdry (SDRY.L) has hired Interpath Advisory to help cut costs, it said on Friday, weeks after warning on profits as the industry struggles with challenging market conditions.

The company warned that it expects only to break even this year after a deeper half-year loss as inflation-pinched British consumers reduce shopping spending.

“We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today’s much changed retail environment, and ensure we have the right cost base and structure in place for future success,” a Superdry spokesperson said in an emailed statement to Reuters.

Sky News was the first to report about the Superdry’s plans.

Interpath declined to comment.

Reporting by Radhika Anilkumar and Yadarisa Shabong in Bengaluru; editing by Uttaresh Venkateshwaran

Our Standards: The Thomson Reuters Trust Principles.

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