Ted Baker swings to loss during ‘challenging half’
Ted Baker fell into a loss during its first half, which chair David Bernstein attributed to “very difficult trading conditions”.
The fashion brand’s posted a loss of £23m during the 28 weeks to August 10, down from a £24.5m profit the same period the previous year.
Group revenue dipped 0.7% to £303.8m down from £306m during the comparable period.
The groups total retail sales dropped 2.5% to £214.5m with UK and Europe sales decreasing 3.9% to £14.3m. Retail sales in North America increased 3.1% to £63.7m however Rest of the World retail sales fell 15.2% to £9.5m.
The struggling fashion retailer’s online sales fell 1.3% to £52.3m.
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