Superdry issues Profit Warning

Clothing retailer Superdry issued a profit warning in April, citing “arithmetic errors” in their forecast as a contributing factor towards the poor results. This represents the retailer’s third profits warning since October in which it reported a shortfall of £8m to its profit expectations. The share price has dropped significantly as a result. The company has grown too quickly and is likely to have stretched its resources. Perhaps they could have benefitted from a high quality accountant!