The brand that was founded by the company has plunged more than 80% after leaving, and the British street brand Superdry founder Julian Dunkerton plans to hold a special shareholders meeting to regain the brand.
British Sky News quoted sources on Sunday as saying that Julian Dunkerton is in contact with private equity funds in an attempt to delist the Superdry PLC (SDRY.L) from the privatization of the London Stock Exchange. After several high-level reductions, Julian Dunkerton threw about 18% of the group's shares.
Due to the British diplomatic difficulties in Brexit and the warm winter effect, after the release of the interim results and the third profit warning in the fiscal year on December 12, the extremely dry stock price fell by 40% in a single day, recording a 52-week low of 354.00 pence, which was set at the beginning of the year. The historical high of 2,102.00 pence plunged 83.2%. Despite the extreme dryness of the past week, the stock has fallen nearly 80% so far this year.
The source also said that Julian Dunkerton tried to remove the current chairman of the company, Peter Bamford and CEO Euan Sutherland, through a special shareholders meeting.
The extremely dry proxy dispute is one of many similar incidents in the open market in recent years. According to sources, Julian Dunkerton may return to the company as interim CEO, but he does not want to stay in that position for a long time, and privatization is a last resort. The last option.
When updating the mid-term sales data in early November, Julian Dunkerton publicly opposed Euan Sutherland's transformation plan, did not want Euan Sutherland to cut the brand Skus, and claimed that the extreme dryness had embarked on the "completely wrong track" and that he could not "30 years of hard work." "Put into recession and sit back and ignore."
However, if a special general meeting is convened, Julian Dunkerton still needs the support of other major shareholders, and the market believes that he needs to support the institutional investors Aberdeen Standard Investments and Dacoz Artemis, which together hold an extremely dry 20% stake. Once there is no support from existing investors, Julian Dunkerton may offer a final killing, seeking an external PE to form a consortium that will be extremely dry and privatized.
No fashion Chinese network data shows that as of the first half of the fiscal year of October 27, the extremely dry and continuing business profit before tax decreased from 25.3 million pounds to 12.9 million pounds, plummeted 49.0%, the actual operating profit of 26.4 million pounds, compared to 2018 In the middle of the year, 9.1 million pounds increased by 190.1%, mainly due to changes in the fair value of foreign exchange contracts.
The UK company expects a pre-tax profit of £55 million to £70 million for the current fiscal year, compared to £17 million for the pre-tax profit for the previous fiscal year. At the beginning of last month, when the company released preliminary data on mid-term sales, it said that the annual profit was 10 million pounds retrograde, and the new profit forecast showed that at least 20 million pounds of retrogression, up to 42 million pounds.
In addition, Extreme Dry also released the “Difficult trading period” transformation plan.
Group CEO Euan Sutherland said that the business in the first half of the year was in a difficult environment – unfavorable weather, consumer purchases were driven entirely by discounts, but the company is launching an 18-month innovation and diversification project.
Under the new transformation strategy, the new plan includes accelerating the launch of new products, launching a new children's wear business next year (expecting a margin of profit of £10 million in FY 2022) and a pure organic cotton product line that fully realizes organic cotton raw materials in 2040. In addition, the company will continue to promote the digital business of B2B, third-party online platform, and expansion in the US and China markets, expecting international business income in FY 2020 to reach 400 million pounds.
Under the new plan, the company will adopt lower-priced Chinese supplier products and guarantee brand authorization for the accessory series while ensuring the original quality.
Closed stores and layoffs are also in the new Romwe Coupon Code transformation strategy. The assessment and implementation will be completed in March 2019. It will also include reducing the rent renewal to reduce the operating expenses of £50 million by 2020. In addition, through the figures The strategy allows capital expenditures to be reduced by between £35 million and £40 million per year.
