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Superdry shares soar as founder and CEO Julian Dunkerton increases stake
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In charge: Julian Dunkerton pictured with his fashion designer wife Jade Holland Cooper
Shares of Superdry skyrocketed as founder and CEO Julian Dunkerton increased its stake.
The businessman spent £2 million on shares, taking his holdings from 21.7 percent to 23.9 percent.
Shares rose 9.8 percent, or 10.8p, to 121.6p. Last week, the company said it had made a profit of £21.9 million through the end of April. It had posted a loss of £12.6 million a year earlier.
Dunkerton, who co-founded the company in 2003, is revamping Superdry’s stores and clothing range. After leaving the company in 2018, the 57-year-old again became chief executive in a boardroom coup a year later.
His turnaround plans were thrown off the track by Covid and now face a blow of rising costs.
He said: ‘These are exceptional times for retail and for the economy in general, and like all brands, we need to work harder than ever to improve performance.’
Dunkerton is Superdry’s largest shareholder, followed by company co-founder James Holder with 7 percent.