Ted Baker sales drop as virus hits high street shops

Credit: REUTERS/SIMON DAWSON

British fashion retailer Ted Baker 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.

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;))

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