forecasting: It also warned that its hedging against currency movements had not worked out as expected, leading to 8m in additional costs, according to The Guardian. Before the profit warning, analysts were forecasting underlying pre-tax profits of 107.1m to 111.6m. The company struggled to sell sweatshirts and jackets, which account for 45% of its annual sales, because of the unseasonably hot weather in the UK, continental Europe and on the east coast of the US. Superdry, which shot to prominence when David Beckham wore one of its Osaka 6 T-shirts on the cover of his 2005 calendar, said the impact of the weather combined with difficult high street conditions would reduce profits up to the end of April 2019 by 10m. To reduce its reliance on warm outerwear, Superdry is trying to sell more dresses, skirts, women's tops and denim as well as tapping into the athleisure trend by opening a handful of stores that only sell sportswear. We are well prepared for peak trading but the second half of financial year 2019 presents both risks and opportunities. It is investing 5m in digitisation, automation and product development, in a bid to adapt stores for a digital world . Superdry has 246 stores, including 102 in the UK. The Superdry chief executive, Euan Sutherland, said We are not immune to the challenges presented by this extraordinary period of unseasonably hot weather.
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