Retailer Ted Baker has seen shares jump higher as the group hailed “resilient” trading after a better-than-feared sales hit from the coronavirus crisis. Retailer Ted Baker has seen shares jump higher as the group hailed “resilient” trading after a better-than-feared sales hit from the coronavirus crisis. The update comes just days after it was revealed Ted Baker plans to axe at least 500 jobs, or more than a quarter of its UK workforce. Though Ted Baker had been braced for store sales to plummet 83% in its base case scenario. Rachel Osborne, chief executive of Ted Baker, said: “Our customers are engaging with the brand and responding to our Covid-19 promotional activity, as evidenced by our resilient trading over the past 11 weeks.

Source: Irish Independent July 21, 2020 11:37 UTC