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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 says 38% of global retail sales hit by coronavirus

03/20/2020 | 05:05pm EST
Shoppers walk past a Ted Baker store on Regents Street in London

Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.

It has closed 197 retail stores and concessions out of 416 locations globally with full shutdown in the United States, Canada, France, Spain, Germany, Portugal and Belgium.

In other markets, the retailer said it was facing reduced trading hours, but added it was too early to provide a guidance for financial year 2020.

However, the fashion retailer said it has seen very less supply chain disruption so far from the outbreak and that the majority of its factories in China are now operational.

Ted Baker said its "inventory levels are sufficient", but it was suspending all non-essential capital expenditure and restricting travel to reduce costs and shore up cashflow.

Last month, the company decided to cut 102 jobs to reduce costs. The retailer suffered a string of setbacks last year, including profit warnings, inventory overstatement, suspension of dividend payments and management changes following misconduct allegations against founder and top shareholder Ray Kelvin, who has denied them.

Separately, the company said it has entered into a deal with a British Airways Pension Trustees unit to sell the entire issued share capital of its unit Big Lobster for a sale consideration of 78.75 million pounds ($91.23 million).

(Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 0.46% 162.25 Delayed Quote.1.53%
NEXT PLC 0.68% 8018 Delayed Quote.13.15%
TED BAKER PLC -0.26% 114 Delayed Quote.-1.81%
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More news
Financials
Sales 2021 362 M 491 M 491 M
Net income 2021 - - -
Net Debt 2021 52,9 M 71,8 M 71,8 M
P/E ratio 2021 -2,27x
Yield 2021 -
Capitalization 210 M 286 M 285 M
EV / Sales 2021 0,73x
EV / Sales 2022 0,46x
Nbr of Employees 3 621
Free-Float 87,3%
Chart TED BAKER PLC
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Ted Baker Plc Technical Analysis Chart | TED | GB0001048619 | MarketScreener
Technical analysis trends TED BAKER PLC
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TrendsBearishBullishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 157,00 GBX
Last Close Price 114,00 GBX
Spread / Highest target 75,4%
Spread / Average Target 37,7%
Spread / Lowest Target 14,0%
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
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