Ted Baker PLC - London-based clothing retailer - Confirms that results for the financial year that ended January 30 will be in line with market consensus expectations. It also reiterates its financial 2023 targets, as upgraded back in December. At the time, it said it expected to achieve its financial 2023 target of a ratio of net debt to earning before interest, tax, depreciation and amortisation of 1x or less by financial 2022 instead. In February, Ted Baker said its fourth quarter had been "difficult" due to enforced store closures, with revenue and reported retail sales in the three months from November to January down 47% from a year before.
Monday's update comes as Ted Baker postpones the release of its full annual results until June 10 from Thursday this week, due to Covid-19 disruption to the audit process.
Current stock price: 180.00 pence
Year-to-date change: up 55%
By Tom Waite; thomaslwaite@alliancenews.com
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