British fashion group Superdry will use bonded warehouses to avoid having to pay tariffs on product re-exported to the European Union, its boss said on Tuesday.
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LONDON (Reuters) - British fashion group Superdry reported much deeper first half losses and another big drop in sales in the Christmas quarter after COVID-19 lockdowns shut its stores.
Co-founder and CEO Julian Dunkerton said the figures, released on Tuesday, hid some massive positives including strong e-commerce sales and a better product mix. But shares in Superdry, best known for its sweatshirts, hoodies and jackets, were down 14% at 0957 GMT, extending their year-on-year decline to 48.6% as investors focused on the deterioration in overall trading.
The group made an underlying pretax loss of 10.6 million pounds ($14.4 million) in the six months to Oct. 24, versus a loss of 2.3 million pounds in the same period in 2019.
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