THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Ted Baker warns on profit

Fashion retailer Ted Baker has warned that its full year profit is to be lower than expected due to foreign exchange movements and costs associated with system upgrades and inventory write-downs.

FASHION

Ted Baker warns on profit

Fashion retailer Ted Baker has warned that its full year profit is to be lower than expected due to foreign exchange movements and costs associated with system upgrades and inventory write-downs.

In a statement, the company said: “Profit before tax is now expected to be in the region of £63 million; this is before previously announced costs associated with the ongoing independent external investigation, exceptional costs relating to the previously announced debtor balances owed by House of Fraser and the acquisition of No Ordinary Shoes Limited and No Ordinary Shoes USA and other non-cash impairments relating to retail assets.”

Ted Baker said foreign exchange movements in the final week of its financial year have resulted in a mark-to-market profit impact of approximately £2.5 million. In addition, a system upgrade has enabled the company to identify additional product costs of approximately £2.5 million that arose during the second half of the financial year.

Other factors impacting profit include recent systems and warehousing transitions in Asia and the US and a write-down in the value of inventory of approximately £5 million due to aged stock. 

Ted Baker will announce its full year results on 21 March 2019.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy