Embattled Superdry hits back at co-founder Julian Dunkerton's blast

Embattled Superdry on Wednesday retaliated after its angry co-founder Julian Dunkerton took a fresh swipe at the fashion retailer as it posted another profit alert.

Dunkerton, who left the business in March, claims the business is neglecting online growth and has cut back dramatically on the number of products it sells, alienating shoppers.

Chairman Peter Bamford said: “He has raised the same issues a number of times. There is nothing new here. The board considered his proposals in detail and has rejected them. Julian’s views have not evolved to keep up with innovation.”

Bamford added: “Julian did sign off most of the Superdry products available today, and his departure has allowed the management team to commence a new programme and to move apace.”

The firm on Wednesday issued its second profit warning in three months, blaming hot weather for poor sales. Profits will now be between £55 million to £70 million, down from up to £85 million. Pre-tax profits almost halved for the half year to October 27, at £12.9 million.

The fashion brand, popular with “cool dads”, said it will launch a range for kids and spruce up some of its existing categories. The shares tumbled 34.2%, or 196.5p, to 377p — 70% down this year.

Dunkerton: I’ll stop the ticking clock

Julian Dunkerton, who set up Superdry three decades ago, on Tuesday said he felt “vindicated” following the interim results.

He still owns more than 18% and is trying to rally shareholders to help him re-join. He said: “This is a complete vindication of everything I have been saying for the last nine months. This is a ticking clock that has to be dealt with now.

“For added certainty and to show my commitment and confidence in the future of the brand I am prepared to lock my shares away for one year.

“It would take me six months to reverse some of management’s current decisions.”