Ted Baker sales drop as virus hits high street shops

Credit: REUTERS/SIMON DAWSON

July 21 (Reuters) - British fashion retailer Ted Baker TED.L on Tuesday reported a plunge in sales, following store closures due to coronavirus-induced lockdowns and said it would continue to withhold forecast for the current financial year.

The company, which said 95% of its stores had reopened as of last week, reported a 55% fall in group revenue to 60.9 million pounds ($77.26 million) for the eleven weeks ended July 18. (https://reut.rs/2OKIW0F)

($1 = 0.7883 pounds)

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta)

((tanishaa.nadkar@thomsonreuters.com; +919730172534; Twitter - @TanishaaNadkar;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.