|Bid||478.20 x 0|
|Ask||480.20 x 0|
|Day's range||469.80 - 492.00|
|52-week range||439.20 - 2,128.00|
|Beta (3Y monthly)||0.64|
|PE ratio (TTM)||183.31|
|Earnings date||21 Mar 2019|
|Forward dividend & yield||0.48 (10.07%)|
|1y target est||2,118.44|
The mid-cap FTSE 250 slipped 0.7% to its lowest in more than a month after data showed the UK services sector unexpectedly shrank last month as the country's exit from the European Union dragged on. A slew of shockingly weak U.S. economic data, lingering fears over the Sino-U.S. trade dispute and heightened no-deal Brexit jitters have spooked traders this week, and the World Trade Organization's approval of U.S. tariffs on European goods has further fanned fears.
Shares in Ted Baker shed more than a third of their value on Thursday, after the British fashion retailer's second profit warning in four months on the back of what new boss Lindsay Page called the worst business conditions in decades. The warning underlines the challenges facing Page, who became chief executive officer in April, after misconduct allegations against Ted Baker founder and top shareholder Ray Kelvin. Ted Baker and other high-street retailers face several challenges: weak consumer demand brought on by political uncertainty related to Britain's departure from the European Union, heavy discounting and the shift to online shopping.
The warning underlines the challenges facing Page, who became chief executive officer in April, after misconduct allegations against Ted Baker founder and top shareholder Ray Kelvin. Ted Baker and other high-street retailers face several challenges: weak consumer demand brought on by political uncertainty related to Britain's departure from the European Union, heavy discounting and the shift to online shopping. Other brands have also complained about a tough climate, although the world's second-biggest fashion retailer H&M reported its first quarterly rise in pretax profit in over two years on Thursday.
British fashion retailer Ted Baker Plc reported a first-half pretax loss and warned of a slow start to the second-half of the year on Thursday, hurt by unseasonably warm weather, heavy discounting by competitors and weak consumer demand. The company, which had earlier flagged an "extremely difficult" start to the year, reported a pretax loss of 23 million pounds ($28.27 million), compared to a profit of 24.5 million pounds a year ago, for the six months ended Aug. 10. Ted Baker said the slower start will hit its full-year performance and cautioned that second-half results would be lower if the hurdles persist.
British fashion retailer Ted Baker Plc said on Thursday Rachel Osborne will become its new finance chief once she steps down from the same position at Debenhams, following just one year in the role at the department store chain. Osborne, a retail industry veteran with more than two decades of experience, will join Ted Baker "at a date to be agreed within the next few months", the company said in a statement and published after Debenhams announced her departure. Debenhams said its current Group Finance Director Mike Hazell, who has been with the company for nearly a decade, would replace Osborne.
Osborne, a retail industry veteran with more than two decades of experience, will join Ted Baker "at a date to be agreed within the next few months", the company said in a statement and published after Debenhams announced her departure. Debenhams said its current Group Finance Director Mike Hazell, who has been with the company for nearly a decade, would replace Osborne.
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Ted Baker has 560 stores and concessions worldwide with five shops in Japan and Infinity aims to build on the group's store portfolio, expand the concession network and invest in Ted Baker's online presence. Ted Baker, which flagged an "extremely difficult" start to 2019 in June, expects the partnership to add to its pretax profit in the current financial year. Known for selling suits, shirts and dresses with quirky details and bright, block prints, Ted Baker reported its first drop in annual profit since 2008 in March as brick-and-mortar clothing chains suffered due to online competitors and as consumers reined in spending.
Ted Baker said it still "retains an established and mutually profitable relationship with Debenhams", which remains a licence partner for lingerie and nightwear. Fashion chain Next, which trades from more than 700 stores worldwide, defied UK retail gloom and raised its outlook last month. Under the agreement, which will initially run for five years, Next will create and sell Ted Baker childrenswear products including clothing, shoes and accessories.
Shares in the business closed up 13.5% after news of the potential deal. Photograph: Simon Dawson/ReutersShares in Ted Baker have jumped after reports that the fashion retailer’s founder, Ray Kelvin, was considering teaming up with investors to buy the company.Kelvin quit as chief executive in March in the wake of allegations of inappropriate behaviour towards staff, including forced hugs.Reports at the weekend said Kelvin, who owns 35% of Ted Baker, was prepared to support a buyout to take the company private and work with its existing management.Shares in the business closed up 13.5% at 951p on Monday. The share price has more than halved since early January following the publication of two profit warnings, as it described “extremely difficult” trading conditions.In March 2018 the shares traded at £32.14, valuing Ted Baker at £1.4bn. The company is now valued at about £424m and Kelvin’s stake is worth £148m.Following Kelvin’s departure his former finance director and associate of more than 20 years, Lindsay Page, has been running the company. David Bernstein, a former chairman of French Connection and the Football Association, is executive chairman.An acquisition could be backed by private equity firms, which are awash with cash, or a consortium of other investors, according to the Mail on Sunday, which first reported talk of a bid.Kelvin, 63, is on an extended family holiday in the US and is said to be considering his options after leaving the company he founded more than 30 years ago.Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskIn his farewell message to employees he said he would take time to consider his “next adventure”. He denied all allegations of misconduct, which were first reported by the Guardian, but said he was leaving to remove a distraction from the business.Sources said any talks about a bid were likely to be informal at this stage. Spokespeople for Ted Baker and Kelvin declined to comment.
Kelvin, who had been CEO since the company's launch in 1988, has indicated that he would support a deal to take the company private under the existing management, the Sunday Times reported. Speculation of a buyout comes after Ted Baker's shares lost more than a quarter of their value last month when the retailer warned that underlying profit for the year would fall short of analysts' estimates. The warning underlined the task facing Lindsay Page, who was promoted to permanent boss in April as the high street retailer sought to move on from misconduct allegations against its leading shareholder Kelvin.
The FTSE 100 index of bluechip companies and the FTSE 250 midcap index both edged higher by 0.1%. Oil majors Shell and BP rose about 1% each, tracking gains in crude prices on concerns that Iran's seizure of a British tanker last week may lead to supply disruptions in the Middle East. Monday's gains in the midcap bourse were led by Ted Baker Plc with a 13.5% jump, after a media report that its founder Ray Kelvin could back a private equity buyout of the retailer, months after he resigned.
European shares ended flat on Monday as a summer lull hit trading volumes at the start of a pivotal week that will see the European Central Bank meet over monetary policy and a deluge of corporate earnings reports. Investors are gearing up for a showdown between Italy's coalition partners this week that could raise uncertainty about the future of the government. "Equity markets have fallen slightly in the past few days, more so in Italy than others, but in most cases they are still close to record highs.