Superdroop: Fashion firm's new profits warning

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Its weaker, UK retail sales sent shares in the owner of the SuperDry and Cult clothing brands crashing by 112p, or 16%, to 588p, continuing its rollercoaster ride on the stock market since it floated at 500p in March 2010.

Chief executive Julian Dunkerton said: "We had a difficult [last] three weeks in January when everyone was discounting and we didn't [in the UK]. It was the most heavy discounting among our fellow retailers I have ever seen."

SuperGroup grew its underlying UK retail sales, including online, by 4.4% over the 13 weeks to January 29, but this is less than half the 9.3% growth posted in December.

Following its "variable" retail performance, SuperGroup has revised down its full-year, pre-tax profit guidance to the lower end of City expectations of between £50 million to £54.1 million. SuperGroup also issued a profits warning in September.