Getty ImagesSuperdry has warned its profits will be worse than expected, blaming an “abnormally mild autumn” for a drop in sales.
The UK fashion retailer has been cutting costs, clearing stock and selling off assets to try and boost profits.
But warmer weather led to demand for its autumn and winter range falling.
The company’s share price dropped to an all-time low on Tuesday after the announcement, before recovering.
The fashion brand – known for its warm coats and hoodies – said revenue fell by 13% over the six months to the end of October.
Overall, retail sales across the UK fell more than expected in September, according to the Office for National Statistics, as shoppers held back buying autumn clothing because of unseasonably warm weather.
Around the world, September was the warmest on record which experts blamed on ongoing emissions of warming gases as well as the El Niño weather event.
Superdry’s online sales were affected by…
