Ted Baker (TED)

Sector:

Retailers

Index:

FTSE Small Cap

77.60p
   
  • Change Today:
    -0.15p
  • 52 Week High: 872.08
  • 52 Week Low: 77.60
  • Currency: UK Pounds
  • Shares Issued: 184.51m
  • Volume: 16,624
  • Market Cap: £143.18m
  • RiskGrade: 273

Ted Baker inventory overstatement more than double initial estimate

By Michele Maatouk

Date: Wednesday 22 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Fashion retailer Ted Baker said on Wednesday that it had overstated the value of its inventory by more than twice what it originally estimated.
In December, the company said it may have overstated the value of inventory on its balance as at January 2019 by between £20m and £25m. However, a review by Deloitte - which has now been largely concluded - has shown that it was overstated by £58m.

Ted Baker reiterated that there would be no cash impact for the overstatement that related to prior years.

At 1025 GMT, the shares were down 5.9% at 300.20p.

Independent retail analyst Nick Bubb said: "The Ted Baker share price has tumbled even further recently, even though there has been no trading update since Christmas and today's announcement doesn't move the debate much further forward.

"As previously stated, however, the overstatement is a non-cash item and related to prior years. And long-suffering shareholders, including the former boss Ray Kelvin, may be relieved to hear that there are no plans for any further update until the time of the preliminary results in March."

CMC Markets analyst David Madden said: "The clothing company has issued a string of profit warnings recently, hence why the share price has taken a battering. The inventory issue adds weight to the argument the company doesn't have its affairs in order, so sentiment is likely to remain sour."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ted Baker Market Data

Currency UK Pounds
Share Price 77.60p
Change Today -0.15p
% Change -0.19 %
52 Week High 872.08
52 Week Low 77.60
Volume 16,624
Shares Issued 184.51m
Market Cap £143.18m
RiskGrade 273

Ted Baker Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
39.73% above the market average39.73% above the market average39.73% above the market average39.73% above the market average39.73% above the market average
8.7% below the sector average8.7% below the sector average8.7% below the sector average8.7% below the sector average8.7% below the sector average
Price Trend
99.06% below the market average99.06% below the market average99.06% below the market average99.06% below the market average99.06% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income
22.03% above the market average22.03% above the market average22.03% above the market average22.03% above the market average22.03% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
90.93% below the market average90.93% below the market average90.93% below the market average90.93% below the market average90.93% below the market average
91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 6
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ted Baker Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Oct-19 16-May-19
Paid 22-Nov-19 21-Jun-19
Amount 7.80p 40.70p

Trades for 08-Jul-2020

Time Volume / Share Price
08:09 58 @ 79.50p
08:09 24 @ 79.65p
08:09 6,500 @ 78.92p
08:08 624 @ 80.07p
08:04 766 @ 78.92p

Ted Baker Key Personnel

CEO Rachel Osborne
CFO David Wolffe

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