Not so calm... https://www.google.co.uk/amp/s/news.sky.com/story/amp/superdry-founders-battle-descends-into-dirty-tricks-row-11681549
To be fair, I’m not against opening stores. Like I’ve always said, some very successful brands are still opening. The difference is those other successful brands carefully pick where, what size, what adjacencies, what layout is achievable etc. Let’s take Primark. No online. Yes through Amazon, eBay, ASOS, but not on Primark site. They’re doing alright. Look at cool teens fave store, Urban Outfitters. Why I believe they just opened a store in Cheltenham, right on SDRY home patch. I bet JD goes in and loves it, I bet ES doesn’t go in, and wouldn’t get it... UO doesn’t have as many stores in the UK, but they are all quite big, and have a vibe and destination feel about them, quite different to SDRY. Undoubtedly, SDRY needs to close some stores, perhaps a lot of stores, ones that they should not have opened in the first place. That said, they can open more as long as they are well thought out. Presently, I am surprised that they are opening stores as teeny as Ipswich. Did you note those adjacencies in my earlier post?? For one thing, the current stores they have are looking terrible, deary me. JD will be ranting, the wise men of the City probably can’t see it, even if they were shown it. ES obviously can’t.
From the Ipswich Star.... Ipswich shoppers verdict....'I'm surprised they're opening one here'. You and me both.
Further, shopper, Tony Manwaring is also doubtful of the store’s future success.
He added: “There’s not really much reason to come into town at all unless to get a coffee or go to a charity shop."
Are you reading this Institutional Investors???
So SDRY are opening a new store in Ipswich. All 1635sq ft of it. Here’s what the article says... ‘The 1635sq ft Superdry store will join the ranks of TK Maxx, New Look, Select and Boots in the centre.’ You bet it will :(
I’d like to think he isn’t just spinning a yarn, and that he does have genuine support. I think ES is just too stubborn to call it a day. Potentially ES also sees this as his last hope of being a ‘big boy’, as by now, surely, the City can see all his flaws in glorious technicolour. Where does he go from here? I think he’s finished if he goes, so he may as well stay on the big bucks for as long as possible, even if it means the Co goes down in flames...which it will/is already. I wonder if the IIs have the very latest sales figures, area by area? If they do, or JD has access to them and can supply, they will surely throw their hats in JDs ring. Personally, I think sales are going to be down to LY in almost every market. What SP then? Of course, JD will inherit this, and it’s not going to be easy to arrest it, let alone turn it around.
http://www.cityam.com/275301/superdry-founder-ramps-up-pressure-board-after-saying-he
I’d love to know how they came to that advice. Who told them?? You can talk in a woolly generic fashion about a founder losing control (Patience Wheatcroft Sunday Times) without demonstrating any actual specific knowledge of the business in hand, (Patience again) , and the reader can take away some minor points about the world in general, but to actually come out as the giver of ‘advice’ is a bit rich, when it’s based on vague conjecture. ‘The weather’. Do me a favour. Where are all the comments from ISS on the state of the stores? The redundancies? The SP? The appointment of a Nike football creative? I could go on. If they base any advice on ES comments, they are a disgrace.
I read about it here . http://www.cityam.com/274950/shareholder-advisory-firm-opposes-superdry-co-founders-bid
The ISS advise against. They say the issues facing SDRY arise from decisions of JD and sector issues and the weather. Sector and weather applies to all in the sector, same goes for the weather. SDRY are the worst in the sector. As far as decisions of JD goes...who told the ISS that? Where they there? Or did Sutherland tell them so? You couldn’t make this garbage up...
1 post. Ah, I remember my first too. All fumbling and inexperienced. ;-) I’m not without concern that the brand has ‘run out of steam’. That’s a distinct possibility. However, I take issue with the statement that the issue is ‘not with the current management’. It implies that the brand, any brand for that matter, has a finite lifespan regardless of how the brand is managed. Well that is clearly nonsense. Certain stores need to close. Those that were opened in the wrong place , for example, and those that are too big. They could still have more stores, but they need to be opened in the right markets, at the right time, at the right price. Other fashion brands still open new stores, there’s still profit in them, people like to shop. Its far too easy to just repeat the ‘too many bricks and mortar stores mantra’ without really understanding. Euan Sutherland is on a video on SDRY website talking about China. He says that if they aren’t operating between 500 and 1000 stores in China, he’ll be ‘disappointed ‘. You still think the issue is not with the management? Jobs may well have to be cut. I’d say because of the management’s failings. No I don’t expect JD to come in and reappoint everyone. Nobody thinks that. Can we still use ‘GWH’ in this day and age?
Keeping my ear close to the ground. Still not heard anything really positive from the direction of II’s. I’m not confident that it will happen, I feel the big players will not want to throw caution to the wind and have the management walk and leave something of a vacuum. I’m sure JD is talking to them, and hopefully has ideas for people to bring on board. Probably these that left because of Sutherland.
Some very well presented thoughts being put in wrong the SaveSuperdry page. There’s some very angry, hurt, and disappointed employees lining up to have their say, which only through these circumstances has been afforded. I did say pretty much all of this about 3 years ago as I was very closely associated with the business and could see the people that were leaving, and those coming in.
Oh my word! Somebody described as an 'ex HR employee' has well and truly had a go at Andrea Cartwright the HR Director. You don't get that level of criticism unless at least some of it is true! Entertaining read, however.
I do personally have some experience of this woman from a legal perspective, and have heard directly from employees about their thoughts on her. I wonder if II's read these? I'd like to think so.
Some harsh comments on the SaveSuperdry page. Not the first time I’ve heard Sutherland described as a ‘psychopath’, however. Sounds like someone close to the action with those comments on firing experienced retailers and NDA’s.
Maybe Regent Street looked like an alpine ski shop to help shift the niche ski wear they try to sell. All I see is tee’s, hoodies, jackets. Tops in other words. Now, it’s a fairly loose rule, but generally in retail of this nature, you’re going to sell 2 tops to every bottom. So here’s the question. Who owns Superdry trousers? Who actually thinks of Superdry when they think of purchasing a pair of jeans or trousers? Not many, I’d wager. So straight away, you can see some missed business, and we’re not talking about a funky trend, it’s staple isn’t it?. Let’s be a little more specific. Cargo pants are really big now. Whether we’re talking Next, or a little more ‘in’, like Carhartt or Dickies, they’re blowing out of stores. It’s a bit ‘street’, it’s a bit ‘yoof’. Tell me why Superdry aren’t killing this one? They should be all over it, but they have totally missed it.