Ted Baker, the British luxury clothing retailer, has predicted a loss of £65.2 million for the year that ended 30 January 2021.
Closure of stores owing to lockdown, as well as Ted Baker’s continual focus on formalwear and occasion wear, has been attributed as major reasons for retailer’s business getting impacted last year.
Consequently, analysts have predicted the aforementioned operating loss for the retailer.
The numbers are expected to come out later this week when Ted Baker will make the trading update.
The retailer has also, reportedly, said that the update will in all likelihood be with what the analysts have predicted.
Meanwhile, Ted Baker has also announced that it has secured an extension to its refinancing arrangements, including a £90 million credit facility.
The analysts have also suggested that its revamping efforts could place it in a strong position to rebound after heavily reducing its cost base.
Founded in 1988, Ted Baker is known for its womenswear, menswear and kidswear and has stores and outlets in Europe, the US, Canada, South Africa, the Middle East, Asia and Australia. It generated £617.4 million in 2019.