Shares in Superdry rose more than 4% on Monday after the activist investment firm Gatemore Capital disclosed that it had amassed a 3.37% stake in the U.K. fashion retailer, which it said is well positioned to benefit from changing consumer trends triggered by lockdowns.
“Superdry has shown strong resilience despite a challenging trading environment in recent months, and we are confident the business is poised to benefit from the trend toward casual wear,” Liad Meidar, managing partner of Gatemore, said.