Home Brexit Ted Baker sales falter amid Covid-19 and Brexit pressure

Ted Baker sales falter amid Covid-19 and Brexit pressure

by LLB Editor
11th Feb 21 12:05 pm

Ted Baker today reported a 47 per cent fall in fourth-quarter revenue as the struggling fashion retailer’s shops in Britain were shut during the latest coronavirus lockdown.

Group ecommerce sales, on the other hand, fell 1% and represented a 63% of total retail sales for the year from 33% in fiscal 2020.

“Following the trade agreement between the U.K. and EU signed in late December 2020, the group anticipates up to 5 million pounds ($6.9 million) of incremental costs associated with Brexit, reflecting extra duty and shipping costs partially offset by a new customs warehouse capability,” it said.

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