Ted Baker reveals £5m Brexit hit
Fashion chain Ted Baker has revealed a hit of up to £5 million from Brexit as tumbling festive sales also laid bare the toll taken by the pandemic. The group said the expected Brexit bill comes as it faces extra duty and shipping costs following the end of year agreement, which will only be "partially offset" by new customs warehouse capability. Ted Baker reported retail sales nearly halving in its crucial Christmas quarter, plunging 47% in the 13 weeks to January 30 as the coronavirus lockdowns and restrictions battered trade. It was also knocked by significantly lower numbers of sh...
Source: heraldscotland.com