Can The Founder Save Superdry That Evaporated 80% Of Market Value?

It was founded by hand.

After its departure, the stock price fell more than 80%, the British tide card.

Founder Julian Dunkerton intends to convene a special shareholders' meeting to win back the brand.

According to the world clothing and shoe net, Julian Dunkerton is in contact with private equity funds, trying to delve Superdry PLC (SDRY.L) from the privatization of London exchange.

After several high positions, Julian Dunkerton threw about 18% of the group's holdings.

Due to Britain's internal and external difficulties and the impact of warm winter, in December 12th, after the third profit police in the mid-term performance and fiscal year, it was extremely dry, and the stock price fell by 40% on a single day. It recorded a 52 week low of 354 pence, which was 83.2% lower than the 2102 pence historical high in early years. Although the last week's dryness has rebounded, the stock's decline is still close to 80% so far this year.

The source also said that Julian Dunkerton tried to vote through the special shareholders' meeting to remove the current chairman of the company Peter Bamford and CEO Euan Sutherland.

The extreme drying proxy dispute is one of the many similar events in the open market in recent years. Sources say Julian Dunkerton may return to the company as interim CEO, but he does not want to stay there for a long time, and privatization is also the last option.

At the beginning of November, when the mid term sales data were updated, Julian Dunkerton openly opposed the pformation plan of Euan Sutherland, did not want Euan Sutherland to cut the brand Skus, and claimed that extreme dryness had embarked on the "totally wrong track" and could not afford to ignore the "30 years of effort" in a recession.

However, if the special shareholders' meeting is convened, Julian Dunkerton still needs the support of other major shareholders.

He thought he needed to win the support of Aberdeen Standard Investments and Artemis, which had altogether 20% of the shares.

Once there is no support from existing investors, Julian Dunkerton may resort to the final kill and seek outside PE to form a consortium, which will be extremely dry and privatized.

Data show that as of the first half of October 27th, extreme dry business profits before tax decreased from 25 million 300 thousand to 12 million 900 thousand pounds, down 49%, and the actual operating profit of 26 million 400 thousand pounds, an increase of 190.1% over the 9 million 100 thousand quarter of the 2018 fiscal year, mainly from the change in the fair value of foreign exchange contracts.

British companies expect a pre tax profit of 5500-7000 pounds in the current fiscal year, compared with a pre tax profit of 97 million in the fiscal year.

At the beginning of last month, when the company announced the preliminary sales data for the medium term sale, it said that the profit of the whole year went back 10 million pounds compared with the previous year. The new surplus test showed that at least 20 million pounds had regressed and the most backwards was 42 million pounds.

In addition, extreme drying has also released the "Difficult trading period" pformation plan.

Euan Sutherland, group chief executive, said that in the first half of the year, the business was in a difficult environment - adverse weather and consumer buying were totally driven by discounts, but the company is launching a 18 month innovation and diversification project.

Under the new pformation strategy, the new plan includes speeding up the promotion of new products, launching new children's clothing business next year (the expected profit margin of 10 million pounds in fiscal year 2022), and the pure organic cotton product series which completely realizes organic cotton raw materials in 2040.

In addition, the company will continue to promote the digital business of B2B and third party online platforms, as well as the expansion in the US and China market, expecting the international business revenue to reach 400 million pounds in the 2020 fiscal year.

Under the new plan, the company will adopt cheaper Chinese supplier products while guaranteeing the original quality, and brand authorization for the accessories series.

Shop closes and layoffs are also in the new pformation strategy. In March 2019, the assessment and implementation will be completed. At the same time, the rent will be reduced, so that the operating expenses can be reduced by 50 million before the 2020 fiscal year. In addition, the capital expenditure can be reduced by 3500-4000 pounds per year through the digital strategy.

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