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Ted Baker H1 loss before tax £23m

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Christian Fernsby ▼ | October 3, 2019
Ted Baker
Ted Baker   The slump in earnings comes despite revenue shrinking just 0.7%

Ted Baker’s half-year results, released on Thursday, show the retailer lost £23m before tax in the six months to the end of August, compared to a profit of £24.5m in the same period last year. The slump in earnings comes despite revenue shrinking just 0.7% to £303.8m. Retail sales fell by 2.5% to £214.5m.

Topics: Ted Baker

Chief executive Lindsay Page blamed the poor performance on “weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce.”

“We remain actively focussed on cost control and driving further efficiencies,” Page said in a statement. “Despite the structural challenges and cyclical pressures on the industry, we remain confident in Ted Baker's ability to navigate the market and further develop as a global lifestyle brand.”


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