THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Ted Baker posts £79.9m loss as it launches £95m share sale

Ted Baker has swung to a pre-tax loss of £79.9 million in the year to 25 January from a pre-tax profit of £30.7 million in the… View Article

FASHION

Ted Baker posts £79.9m loss as it launches £95m share sale

Ted Baker has swung to a pre-tax loss of £79.9 million in the year to 25 January from a pre-tax profit of £30.7 million in the previous year.

Revenue fell by 1.4% to £630.5 million in the period as trading was impacted by heavy discounting across the apparel sector brought on by weak consumer spending and a shift to people buying online.

Retail revenues dropped by 4.6% to £439.9 million as store revenues declined by 5.3%. Ecommerce sales were also down, falling by 2.5%.

In addition to reporting its full year results, Ted Baker said it is planning to raise £95 million through the sale of new shares as it looks to strengthen its balance sheet, plan its recovery following the coronavirus pandemic, and implement a new transformation plan.

Rachel Osborne, Ted Baker’s recently appointed chief executive, said ” Today we are excited to launch ‘Ted’s Formula for Growth’, a comprehensive strategy for the Ted Baker brand which is supported by a significant recapitalisation of the business, that strengthens our position and enables us to both execute that transformation, and navigate through the disruption caused by Covid-19.

“The Ted Baker brand is much loved, it has a unique personality and character built up over many decades, and that provides us with a remarkably strong foundation from which to continue our international growth.  I am confident that our transformation plan will enable us , Ted Baker, to capitalise on our opportunities and deliver value for all of our shareholders.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >