Ted Baker's loss widens, turnover drops by 45.9 percent

Ted Baker plc said in a statement that the group’s performance was significantly impacted by Covid-19, which depressed demand in all territories and resulted in stores remaining closed for a significant proportion of the period. As a result group revenue decreased by 45.9 percent or 46.2 percent in constant currency to 169.5 million pounds for the 28 weeks ended August 8, 2020. The gross margin before non-underlying items decreased to 50.3 percent, while the loss before tax declined to 39 million pounds and the loss before tax worsened to 86.4 million pounds compared to a loss of 23 million pounds in 2019. The company added that adjusted earnings per share, decreased to a loss per share of 28.6p and basic earnings per share deteriorated to a loss per share of 64.1p.