Superdry Plc shares plunged after the fashion retailer cut its profit outlook for the year, blaming its underperforming wholesale business and warning of potential consumer weakness in the months ahead.

The British retailer, known for its logo T-shirts and bright colors, now expects adjusted pretax profit to be flat for the fiscal year ending in April. That compares with a previous forecast for £10 million ($12 million) to £20 million profit.

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