THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Ted Baker sales hit by Covid-19 store closures

Fashion retailer Ted Baker has posted a 47% decline in group revenue in its fourth quarter after sales were hit by Covid-19 related store closures.  In… View Article

FASHION RETAIL NEWS UK

Ted Baker sales hit by Covid-19 store closures

Fashion retailer Ted Baker has posted a 47% decline in group revenue in its fourth quarter after sales were hit by Covid-19 related store closures. 

In the 13 weeks to 30 January, retail sales also fell by 47% while group online sales edged down 1% after accounting for 63% of total retail sales. However, directly operated ecommerce sales increased by 2%.

The retailer is planning to launch an improved ecommerce platform at the end of the current quarter.

Rachel Osborne, chief executive of Ted Baker, said: “While we have made encouraging strategic progress, trading over the fourth quarter was difficult and heavily impacted by the Covid pandemic, leading to the closure of many of our stores during the period and a lack of demand for outerwear and occasionwear over the festive season in particular.”

“Looking forward, we are taking a cautious planning approach and now assume that UK stores will remain closed until the end of May followed by a gradual recovery over the rest of the first half.”

During the period,  Anthony Cuthbertson joined the retailer as global creative director and has been working with Ted Baker’s design teams on refreshing the retailer’s products and brand.  The new design team’s first full collection will be for Autumn/Winter 2021.

Subscribe For Retail News