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SuperGroup is trading at 1133; the stock is down 17% since third-quarter results were announced in early May. The share price has struggled to pull back the losses it incurred when it announced a decline in like-for-like sales for the three months to April, and that full-year profits would be in the range of of £61-65 million. City analysts have since lowered their full profit forecast to be £59 million.
The fashion house blamed an early Easter and a scheduled decline in sales of low margin products via eBay for the fall in revenue, but the company had positive feedback to its autumn and winter collection. SuperGroup is also making inroads into continental Europe.
The share price is trading just below the 50-day moving average of £11.20, while the low of 2014 is 806. As expectations have been managed to the downside, I suspect traders will be happy to bargain hunt even if the figures are broadly in line with expectations. If SuperGroup were to announce another profit warning, we could see the stock drop below the £10 mark.