By Richard Hook2018-12-12T14:02:00
Shares in retailers Superdry and Dixons Carphone have fallen by 30% and 14% respectively this morning after both reported huge year-on-year falls in their half year reports.
Superdry said it was considering closing stores as part of a cost cutting drive to save £50m by 2022 having revised full year profits expectations down to between £55m and £70m from around £84m. Underlying profit before tax fell by close to 50% year-on-year in the six months to 27 October, down to £12.9m.
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