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

Published on 27/02/2019 - 09:04•Updated 26/04/2024 - 08:54

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(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.