Superdry chiefs quit after founder returns

Might be an interesting one to watch, not sure which way this will go. Thoughts?

Share price didn’t react well

3 Likes

It was a super close vote, the share price dipped lower after hours as a large part of the senior team quit, although it would be difficult for them to stay given how heated it all got. The share price might dip further now since the vote was so close, some of the institutions that voted against this might reduce their holdings.

I’m holding for now but all of a sudden I’m no longer up 30-something percent because of the uncertainty :see_no_evil:

I’m 99.99% sure Julian Dunkerton said he won’t sell any of his 18% stake in Superdry for 2 years if he’s reinstated. Hopefully he’ll buy some more now :crossed_fingers:

The 6 month campaign was quite extensive, have a look at savesuperdry.com :eyes:

5 Likes

Down 12% today :open_mouth: interesting…

I spoke to a friend last night who was at that meeting - it was very hostile apparently. I’d expect this to be volatile short term but I think its a great entry point for anybody looking to buy and hold. Dunkerton will steer the ship in the right way

4 Likes

Just a quick reminder for anyone who’s new to investing that this isn’t a sure thing. Superdry’s prospects seem to be pretty up in the air right now.

3 Likes

This part of the Guardian’s article was funny, don’t know whether to take this seriously

The dispute has pitted the 54-year-old Dunkerton against a board that he claimed did not understand the fashion business.

There was some evidence of that at the meeting as, while Dunkerton and fellow co-founder James Holder were dressed in skinny jeans, most of the men on the board were wearing what one analyst described as “Jeremy Clarkson style ‘smart casual’ combo”.

:joy: the jeans gave it away

In other news I’m now only +5% :sob:

5 Likes

Sorry - shouldn’t be doing that.

1 Like

It’s trading at an attractive valuation of c. 3x EV/EBITDA with a healthy balance sheet. Question is whether the founders can return the company to sustainable growth and restore margins.

Not sure if this has been priced in already or whether the share price will collapse to the 300s again.

Largely priced in I think. Interesting times for the company - UK high street problems still weigh hard on it though. Tough to see this year being anymore positive than this

1 Like