Superdry sees shares temporarily suspended on results delay

Superdry has become the latest UK retailer to see its shares suspended following a delay to its results. But unlike a high-profile case such as that of Revolution Beauty in 2022 and earlier this year, the Superdry delay shouldn’t be a long one.

The retailer requested the suspension on Wednesday and promised a quick resolution to the delay.

Its statement read: “Superdry announces that publication of the company’s audited FY23 results has been delayed and confirms that, at the company’s request, the listing of the company’s ordinary shares of 5 pence each on the premium segment of the Official List, and trading in the ordinary shares on the Main Market of the London Stock Exchange, have been suspended with effect from 7.30 a.m. BST today.

“Under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, the company is required to publish its audited FY23 results by 29 August 2023.” 

It added that it’s “currently working with its auditor to complete the final technical points of the audit of its FY23 results and expects to announce later this week. The board confirms that the delay is a result of normal procedures taking longer than anticipated during the first year that RSM are auditing the company”.

While not a major crisis for the fashion firm, it’s just the latest blip in a period that hasn’t exactly been strong for it. Back in July it emerged that eight franchised Superdry stores would be closing. Its COO also exited in May and in April it had reported disappointing sales with the company seeking cost cuts.