Superdry down £175m because they’re rubbish at mathsApril 20th, 2012 • 7 Comments
Fashion retailer SuperGroup are looking at going back to school after they wiped £175m off their value after dropping a massive maths bollock, or as they call it, “arithmetic errors.”
Chas Howes, outgoing finance director at Superdry, discovered that a plus-sign, rather than a minus figure, had been put in the forecasts for the wholesale business. This is not the kind of thing you want to be doing when you’re on your third profit warning since October. Shares have now sunk to an all-time low.
SuperGroup explained there have been “arithmetic errors in our forecast of the wholesale business amounting to some £2.5 million”.
With ginormous calamities like this happening as well as a lack of sales (not to mention the fact no-one really buys anything anymore, ever), Superdry could well be a candidate for Deathwatch. However, it isn’t a good idea to ask Superdry because they’ve no idea how well they’re going.
In a statement, the retailer said that its “wholesale business is multi-dimensional, experiencing high growth levels and, given our rapid expansion and lack of history, it is difficult to predict accurately”.
Bad at maths and can’t see where they’re going. What a tremendous farce!
‘Chas Howes’ should read ‘Chav Howes’; sorry for being an illiterate dick.
They got they’re sums wrong by £175 Million and only just noticed. How the hell are they still in business and how come the finance director wasn’t fired for being incompetent?
I bet Chas wishes he had covered his arse by Calltrunk’ing his calls with the accounting department.
Founder and CEO
Drat…and double drat…tsk…these shops/stores on deathwatch are really affecting my business lately….might need to put myself on retail death watch…..what is one to do….
Lack of sales? How can there be a lack of sales when everyone who used to have “NorthFace” on the back of their jacket now has SuperDry?
You mean a positive rather than a negative? Because plus and minus are completely different. But you knew that, didn’t you Muf?
I like Superdry and Northface for that matter. It helps me to determine instantly, that you’re a CUNT.