SuperGroup gets its sums wrong

By The Newsroom
Published 21st Apr 2012, 07:00 BST
CLOTHING chain SuperGroup shocked investors yesterday with the second profits warning in seven months, blaming “arithmetic errors” and lower-than-expected sales in its wholesale business.

SuperGroup, which has 76 Superdry and Cult stores including branches in Hull, Leeds, Sheffield and York, warned that profits will be much lower than the City expected.

The company said arithmetic errors in its forecast for the wholesale business amounted to £2.5m of the profit shortfall.

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