Omni-channel retailer Ted Baker saw e-commerce sales fall 1.3 per cent during in what it described as a “challenging” half-year in the sector.
The retailer pointed to heightened levels of consumer uncertainty in its key markets, as well as “the well-publicised challenges that continue to face some of the group’s UK trading partners against the backdrop of the continuing shift towards an increasingly digital retail landscape”.
This year both House of Fraser and Debenhams have entered administration.
Group revenue during the 28 weeks ending 10 August 2019 decreased by 0.7 per cent to £303.8 million (2018: £306 million). It made a pre-tax loss of £2.7 million for the period, compared to a pre-tax profit of £25 million in the same period a year ago.
Chief executive Lindsay Page said: “We are continuing to pro-actively manage the significant challenges impacting our sector including weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce.
“We remain actively focussed on cost control and driving further efficiencies. Despite the structural challenges and cyclical pressures on the industry, we remain confident in Ted Baker’s ability to navigate the market and further develop as a global lifestyle brand.
“This confidence remains underpinned by the group’s flexible, omni-channel model, the continuing strength of the brand, and the skill, passion and commitment of our talented teams worldwide,” he added.
By Christopher Walton
