Ted Baker slips deeper into the red as revenues fall
Ted Baker has reported deepening losses before tax as its revenues fell and costs associated with the ongoing coronavirus pandemic rose.
For the 28 weeks to August 8, 2020, the fashion brand reported underlying losses before tax deepening to £39m, while group revenue fell 45.9% to £169.5m.
Overall retail sales also slipped 42.2% during the period to £124m, while wholesale revenues dropped 55.7% to £39.5m.
The retailer blamed its deepening losses on falling revenues and Covid-19 costs, and said falling sales were primarily due to enforced store closures due to the pandemic.
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