Ted Baker warns on full-year profit

Ted Baker warns on full-year profit
FILE PHOTO: Shoppers walk past a Ted Baker store on Regents Street in London, Britain December 17, 2018. REUTERS/Simon Dawson/File Photo   -  Copyright  SIMON DAWSON(Reuters)
By Reuters

(Reuters) – Fashion retailer Ted Baker Plc on Wednesday forecast a more than 10 million pounds fall in full-year pretax profit, blaming the impact of foreign exchange rates, higher costs to upgrade its systems and inventory write-downs.

The company said it expects to post profit before tax of about 63 million pounds for the year ended Jan. 26, lower than the 73.5 million pounds reported last year.

(Reporting by Sangameswaran S in Bengaluru; Editing by Shounak Dasgupta)

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