Superdry returns to profit despite talks on £70m debt pile

Founder Julian Dunkerton says being cool again' with TikTok generation helped turn previous 37m loss into 18m profit

Superdry is in talks with its banks to renegotiate up to 70m debt, the fashion retailer revealed on Friday, but investors shrugged off concerns to send shares soaring more than 14% as founder Julian Dunkerton announced a return to profit.

Dunkerton claimed Superdry was cool again", with strong demand from the TikTok generation for items such as parachute pants and Afghan coats, as he revealed pre tax profits of 18m, a bounce back from a loss of almost 37m a year before as sales rose almost 10% to 610m in the year to 30 April.