Ted Baker (lon:ted)
Ted Baker – Trading Update May To July 2020

Ted Baker Financials

ItemCurrent PeriodPrevious Period
YearN/A N/A
Period12 Months12 Months
Revenue
Earnings
Adjusted Earnings
EBITDA
Adjusted EBITDA
Statutory Profit
Adjusted Profit
Total Debt
Net Debt

Commentary History
Ted Baker Share Price
Grade:The Green Grade - Shares That I Think Are Oversold..
Title: Ted Baker – Trading Update May To July 2020
Company: TED - Ted Baker
Share Price Then: 79.99p
Author: Ian Smith
Date: Wed 22 Jul 2020
Comments: Trying to make sense of a trading update for a fashion retailer for May – July 2020 is pretty much impossible but what I can see.

Firstly high street retailers have not been reporting web sales replacing lost store sales, revenue is down by 50%,

Superdry reported web sales replacing around 33% of lost store sales and Ted’s store revenue was down from about £65m to £16m so the £10m increase to £35m for web sales was only 20% of the lost store revenue.

Whether this is more or less profitable will depend on how much cheaper the store have been with government aid, landlord assistance etc, numbers not yet available.

What is positive for me is that the group has As at 18 July, the Company has £161.7m of available headroom on current bank facilities of £108m, with an additional £25m becoming available from September 2020.

In other word it has nearly £57m of cash left from the fund raise and head office sale.
Read Count/ID: 143/13162

Buy/No Buy In A Nutshell
NegativesThe brand could simply be past its sell by date and the cost of the retail stores may be too high
PositivesThey did a share issue at 75p without a problem and have relatively little debt, they had some bad press a while back which most people may have forgotten.
Initial Review Price64p
Last Review Price64p
Last Review Date21-Jul-2020
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