Adds particulars from assertion
Adds particulars from assertion
March 20 (Reuters) – Troubled style retailer Ted Baker Plc TED.L mentioned on Friday it has shut businesses that accounted for about 38% of its world retail gross sales in 2020 because of the coronavirus outbreak.
It has closed 197 retail shops and concessions out of 416 places globally with full shutdown in the US, Canada, France, Spain, Germany, Portugal and Belgium.
In different markets, the retailer mentioned it was going through lowered buying and selling hours, however added it was too early to offer a steering for monetary yr 2020.
Nevertheless, the style retailer mentioned it has seen very much less provide chain disruption so removed from the outbreak and that almost all of its factories in China at the moment are operational.
Ted Baker mentioned its “stock ranges are ample”, nevertheless it was suspending all non-essential capital expenditure and limiting journey to cut back prices and shore up cashflow.
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