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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ted Baker Plc    TED   GB0001048619

TED BAKER PLC

(TED)
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Ted Baker cautious after bad weather hits spring trading

03/22/2018 | 09:11am EST
FILE PHOTO: Rain drips off a sign on a Ted Baker sign on a store in London, Britain

(Reuters) - Fashion retailer Ted Baker Plc (>> Ted Baker plc) on Thursday warned of challenging conditions in many of its markets after snowy weather in Europe and the U.S. east coast hit its early spring/summer trading.

(Reuters) - Fashion retailer Ted Baker Plc on Thursday warned of challenging conditions in many of its markets after snowy weather in Europe and the U.S. east coast hit its early spring/summer trading.

The warning sent the company's shares down more 8 percent, despite a 12 percent rise in the retailer's annual pretax profit on the back of higher online sales.

"The recent unseasonal weather across Europe and the East Coast of America has had an impact on the early part of trading for Spring/Summer," the company said.

Ted Baker cautious outlook adds to the gloom surrounding Britain's retail sector, where updates from home improvement retailer Kingfisher and floor covering seller Carpertright's (>> Carpetright plc) this week showed that discretionary consumer spending is under pressure.

Uncertainty about the British economy's outlook after it leaves the European Union next year, plus stagnant real wage growth, have led Britons to cut back on non-essential spending.

Ted Baker, which trades from 532 stores and concessions worldwide, reported a double-digit increase in sales for the year ended Jan. 27, with e-commerce sales now making up nearly 23 percent of its total retail sales of 442.5 million pounds.

The company, which sells from more than 40 store and 55 concessions and outlets in North America, expects a rise in U.S. consumer demand after the country's tax overhaul, passed in late December, which will give consumers more spare cash to spend, company Finance Director Charles Anderson told Reuters in an interview.

Analysts at Liberum said Ted Baker's results showed a "solid performance", especially against such a tough backdrop.

"Ted Baker should continue to outperform the market though as it has proven track record and this is being delivered due to its agile and flexible model with more latterly a significant contribution from e-commerce," Liberum analysts said. They maintained a "buy" rating on the stock.

For 2017, group revenue rose to 591.7 million pounds and the company also raised its dividend by 12.1 percent to 60.1 pence.

Its shares were 7.6 percent lower at 1320 GMT and were the weakest on FTSE Mid Cap Index <.FTMC>.

(Reporting by Radhika Rukmangadhan and Rahul B in Bengaluru; Editing by Subhranshu Sahu and Jane Merriman)

By Rahul B

Stocks treated in this article : Ted Baker plc, Kingfisher, Carpetright plc

© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
JUST GROUP PLC -1.25% 78.75 Delayed Quote.12.66%
KINGFISHER PLC 0.07% 273 Delayed Quote.0.96%
NEXT PLC -2.99% 7914 Delayed Quote.11.69%
TED BAKER PLC -3.02% 105.9 Delayed Quote.-8.79%
WILL GROUP, INC. -0.98% 1007 End-of-day quote.0.10%
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2020Earnings Flash (TED.L) TED BAKER Reports H1 Revenue GBP169.5M
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More news
Financials
Sales 2021 362 M 496 M 496 M
Net income 2021 - - -
Net Debt 2021 52,9 M 72,4 M 72,4 M
P/E ratio 2021 -2,11x
Yield 2021 -
Capitalization 195 M 267 M 267 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,44x
Nbr of Employees 3 621
Free-Float 87,4%
Chart TED BAKER PLC
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Ted Baker Plc Technical Analysis Chart | TED | GB0001048619 | MarketScreener
Technical analysis trends TED BAKER PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 157,00 GBX
Last Close Price 105,90 GBX
Spread / Highest target 88,9%
Spread / Average Target 48,3%
Spread / Lowest Target 22,8%
EPS Revisions
Managers and Directors
NameTitle
Rachel Claire Elizabeth Osborne Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
David Wolffe Chief Financial Officer
Andrew R. Jennings Independent Non-Executive Director
Helena Joan Feltham Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
TED BAKER PLC-8.79%267
INDUSTRIA DE DISEÑO TEXTIL, S.A.-1.73%97 031
FAST RETAILING CO., LTD.-0.70%90 331
KERING SA-8.48%82 702
ROSS STORES, INC.-6.04%40 398
HENNES & MAURITZ AB6.19%36 464