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

TED BAKER PLC

(TED)
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Delayed Quote. Delayed London Stock Exchange - 02/15 11:35:23 am
1880 GBp   +1.84%
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Ted Baker : revenue hit by lower wholesale sales

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12/06/2018 | 03:36am EST
Ted Baker CEO Ray Kelvin obscures his face as he poses for a portrait at his company offices in London

(Reuters) - British clothing and accessories retailer Ted Baker Plc posted a slight decline in group revenue for the 16-week period between August and December as lower wholesale sales overshadowed retail sales growth.

The fashion chain also said on Thursday that it had appointed law firm Herbert Smith Freehills to conduct an independent external investigation regarding claims against its chief executive officer and founder Ray Kelvin relating to his habit of hugging business colleagues.

"While recent news flow is unhelpful, we believe the impact on the group's brand strength and longer-term growth prospects is likely to be minimal," Liberum analysts said.

The analysts added that the company's marker as a global lifestyle brand leaves it far better placed than most in the more challenging retail space that currently persists.

Ted Baker, which operates 544 stores, concessions and outlets worldwide, had been focusing on its fast-growing online and wholesale businesses to counter retail sluggishness as consumers clamp down on spending.

Group revenue fell 0.2 percent for the 16-week period from Aug. 11 to Dec. 1. However, wholesale sales fell by 6.5 percent due to the earlier timing of deliveries in the first half of the year.

Total retail sales including e-commerce rose by 2.3 percent. In the UK, Europe and the East Coast of America, trade was hurt by the unseasonal weather at the start of the period, Ted Baker said.

"Trading in the UK continues to be impacted by the well-publicised challenges facing some of our trading partners," it added.

The world's fifth-largest economy risks stumbling into a disorderly exit from its biggest trading partner, the European Union, if parliament votes down Prime Minister Theresa May's withdrawal agreement on Dec. 11.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely, Bernard Orr)

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Financials (GBP)
Sales 2019 612 M
EBIT 2019 76,3 M
Net income 2019 58,9 M
Debt 2019 117 M
Yield 2019 3,37%
P/E ratio 2019 14,51
P/E ratio 2020 13,36
EV / Sales 2019 1,56x
EV / Sales 2020 1,42x
Capitalization 838 M
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 21,9  GBP
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Lindsay Dennis Page CEO, COO & Group Finance Director
David Alan Bernstein Non-Executive Chairman
Charles F. Anderson Secretary & Finance Director
Ronald Stewart Senior Independent Non-Executive Director
Andrew R. Jennings Independent Non-Executive Director
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