Superdry shares soar as founder and chief executive Julian Dunkerton increases his stake
In charge: Julian Dunkerton pictured with his fashion designer wife Jade Holland Cooper
Superdry shares soared as founder and chief executive Julian Dunkerton increased his stake.
The businessman spent £2m on shares, taking his holding 21.7 per cent to 23.9 per cent.
Shares jumped 9.8 per cent, or 10.8p, to 121.6p. Last week, the business said it had swung to a £21.9m profit for the year to the end of April. It had booked a £12.6m loss a year earlier.
Dunkerton, who co-founded the business in 2003, is carrying out a revamp of Superdry’s stores and clothing range. After leaving the business in 2018, the 57-year-old became chief executive again in a boardroom coup a year later.
His turnaround plans were thrown off track by Covid and now faces a hit from spiralling costs.
He said: ‘These are exceptional times for retail and for the economy more generally, and like all brands we’re having to work harder than ever to drive performance.’
Dunkerton is Superdry’s biggest shareholder followed by the firm’s co-founder James Holder, with 7 per cent.