Ted Baker warns of £5m Brexit bill as festive sales slide
Ted Baker has warned it faces £5m of additional costs associated with Britain’s exit from the EU as it grapples to revive its fortunes.
The fashion retailer said extra duty and shipping costs would only be “partially offset” by new customs warehouse capability.
Ted Baker cautioned of the additional outgoings as it revealed that revenues raked in during its crucial Christmas quarter almost halved as coronavirus-enforced lockdowns battered sales.
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