Luxury label Ted Baker flags 'extremely difficult trading conditions'Business | 11 Jun 2019 7:06 pm
Shares in British luxury brand Ted Baker, which also runs stores in Hong Kong, tumbled in London today following a profit warning and a revised earnings outlook.
Ted Baker anticipates underlying profit before tax for the year ending January 25, 2020 to be in the range of £50 million to £60 million, the company said in a trading update. "This reflects the board's view of anticipated trading for the rest of the year, the positive impact of new product initiatives and planned cost efficiencies.''
Ted Baker intends to announce interim results for the 28 weeks ending 10 August 2019 in early October 2019.
“Ongoing consumer uncertainty in a number of key markets and elevated levels of promotional activity across our global markets have resulted in extremely difficult trading conditions during the financial year to date,'' the company said.