Fashion retailer Ted Baker Plc has observed very less supply chain disruption so far and majority of its factories in China have resumed normal operations, as the country reports no new case of Coronavirus.
The company has suspended all non-essential capital expenditure and it is bent on cost-cutting as its inventory levels are sufficient.
On Friday, Ted Baker reportedly locked down the business that accounted for almost 38 per cent of its global sales in 2020.
Out of 416 locations globally, 197 retail stores located in United States, Canada, France, Spain, Germany, Portugal and Belgium have been shutdown.
Rest of the markets offered reduced trading hours to the retailer; therefore, it is not possible to provide any meaningful guidance for the next fiscal.
To reduce costs to the company, Ted Baker cut down 102 jobs last month as it is suffering from major setbacks since last year.
It suffered from profit warnings, inventory overstatement, suspension of dividend payments and management changes following misconduct allegations against founder and top shareholder Ray Kelvin, who has denied them.