Ted Baker sales fall by 47pc as people ditch high-end clothes in lockdown
- Credit: Jarrold
Clothing chain Ted Baker, with concessions across Norfolk, has revealed gloomy figures amid lockdown and a hit of up to £5m from Brexit.
Falling sales in the13 weeks to January 30 were blamed on people not buying occasion wear over the festive period.
And the firm is preparing for stores to stay closed until at least May.
The group said the Brexit has hit it hard due to extra duty and shipping costs which would only be "partially offset" by new customs warehouse capability.
Rachel Osborne, chief executive, said: "While we have made encouraging strategic progress, trading over the fourth quarter was difficult and heavily impacted by the Covid pandemic, leading to the closure of many of our stores during the period and a lack of demand for outerwear and occasion wear over the festive season in particular.
"Looking forward, we are taking a cautious planning approach and now assume that UK stores will remain closed until the end of May, followed by a gradual recovery over the rest of the first half."
- 1 Two Norfolk restaurants in top five 'secret' places to eat on English coast
- 2 Dutch design could inspire revamp of danger roundabout
- 3 Prince William, George and Charlotte start races at Sandringham
- 4 Rare condition kills 'amazing' lorry driver
- 5 'More like March' - So when will we get the sunshine back?
- 6 Machinery sale marks end of family's 100-year farming history
- 7 You can run, Mr Hancock, but you can't hide
- 8 Cactus shop selling £95 plants opens in Norwich phone box
- 9 McDonald's hiring in Norfolk and plans new restaurants
- 10 'Fantastic to have people back' - Tea room reopens on Broads