Ted Baker reveals £25m accounting error actually cost it £58m January 22, 2020 Ted Baker’s torrid time continued this morning after the designer brand said that it had overstated the value of its inventory by £58m. Last month the luxury clothing firm said that it had appointed magic circle law firm Freshfields to investigate the issue, which it expected to cost £25m. Big four auditor Deloitte has now [...]
Ted Baker lenders appoint advisers to review prospects January 8, 2020 Ted Baker’s lenders have appointed advisers to review the struggling high street retailer’s prospects. Lenders including Barclays and Royal Bank of Scotland have lined up restructuring experts FTI Consultants to lead an independent business review to explore the health of the company, Sky News reported. The review could take several weeks, and may lead to [...]
Ted Baker hires headhunters to replace chairman December 8, 2019 Embattled retailer Ted Baker has appointed headhunters to find a replacement for chairman David Bernstein, as it seeks to reshuffle its senior management team following a challenging year for the upmarket brand. The retailer has hired consulting firm Korn Ferry to appoint a successor for Bernstein, who became chairman in 2013 and took on executive [...]
Ted Baker share price sinks into acquisition territory after £25m balance sheet error December 2, 2019 Ted Baker has warned investors that it is set to take up to a £25m hit after overstating the value of inventory on its balance sheet. The retailer has appointed Freshfields Bruckhaus Deringer to investigate the issue and told shareholders that it estimates an impact on the value of the clothing stock of between £20m [...]
Ted Baker shares crash as retailer swings to £23m loss October 3, 2019 Ted Baker’s share price crashed 25 per cent as markets opened today, following a disastrous set of results that saw it swing to a loss and warn on its full-year results. Investors sold out of the embattled fashion retailer to take shares down almost 28 per cent as it booked a £23m half-year loss for [...]
Debenhams finance chief exits after just 12 months to join Ted Baker September 26, 2019 Debenhams finance chief Rachel Osborne has stepped down in order to join struggling fashion brand Ted Baker. Osborne was appointed chief finance officer at the embattled department store in September last year, and has quit after one year to take on the same role at Ted Baker. Read more: Debenhams wins high court battle to [...]
To Infinity and beyond: Ted Baker seals deal to expand into Japan August 28, 2019 Ted Baker has inked a deal to sell its goods to Japanese department stores from October, telling investors it should offer an instant, if marginal, bump to its bottom line. Read more: Ted Baker finance boss bags new role at Mulberry The tie-up sees the retailer appoint Sojitz Infinity as its Japanese retail licence partner [...]
Ted Baker shares soar as Ray Kelvin considers backing buy-out July 22, 2019 Shares in Ted Baker soared this morning following reports that the luxury retailer’s founder Ray Kelvin would back a private equity buyout of the firm, months after he resigned amid allegations of sexual harassment. The retailer’s share price was up more than 15 per cent after it was reported that Kelvin had made enquiries about [...]
Ted Baker share plunge fails to attract buyers June 17, 2019 | City Talk By Graeme Evans from interactive investor. Despite sinking to prices not seen since 2012, investing in Ted shares remains hugely speculative. Ted Baker (LSE:TED) shares are trading at levels not seen since November 2012 after another profits warning accelerated the de-rating of this former high-flying lifestyle brand. Whereas Ted’s shares had once been reassuringly expensive at around 30 times [...]
Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]