Superdry has swung to a pre-tax loss of £85.4 million for the 52 weeks to April 27, compared to a profit of £65.3m last year.

On an underlying basis, profits before tax plummeted 56.8% to £41.9m.

Revenue was flat at £871.7m.

Superdry chairman Peter Williams said: "These are clearly a very disappointing set of results.

"However, everything I have learnt since joining the business in April has reinforced my view that Superdry is a powerful brand with great people across the organisation."

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He said: "While we have been clear it is going to take time, I remain convinced that continuing to work closely with Julian and the leadership team, we are building the right plan to deliver long-term sustainable growth for shareholders."

Shares in Superdry dropped as much as 9% in early trading on Wednesday, but later recovered to trade 2% lower at 438p.

JD Wetherspoon has posted a solid rise in sales, bucking the trend in a pub market struggling to beat last year's World Cup summer.

The value pub chain said like-for-like sales in the 10 weeks to July 7 were up 6.9%, consistent with growth in the year to date of 6.7%.

Total sales were up 6.9% in recent weeks and 7.4% in the year so far.

The numbers show strong growth against a tough backdrop, with several other operators reporting that disappointing weather since May and the lack of the Fifa World Cup has hit sales compared with 2018.

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Despite the sales increase, Wetherspoon's shrank its estate, with five new openings offset by nine disposals in the year to date.

Barratt Developments has upped its full-year earnings outlook after it said completions have surged to an 11-year high.

Britain's biggest housebuilder said it delivered 17,111 homes, excluding joint ventures, in the year to June 30 - up 2.6% on the previous year.

It said efforts to boost its margins are set to see pre-tax profits beat market forecasts, at around £910 million - which would mark an 8.9% rise on the previous year and another record high for the group.

But the group's full-year trading update showed a fall in the average private selling price, down 5% to around £312,000 due to changes in the mix of homes sold, which it said was partly offset by some underlying house price inflation.

Chief executive David Thomas said: "It has been another very good year for the group, both operationally and financially.

"We begin the new financial year with a strong forward order book and cash position."