Ted Baker £58m stock overstatement more than double previous estimates

Ted Baker

Ted Baker has said that its stock overstatement has been valued at £58m, which is “materially higher” than initial estimates.

The fashion retailer, which unveiled a stock overstatement that was given the initial valuation of £25m in December, has said that following an independent investigation by Deloitte the value of the stock was in fact overstated by £58m.

The retailer said this overstatement is “materially higher than the £20-£25m preliminary assessment announced in December 2019.”

However, Ted Baker reiterates that the overstatement is a non-cash item and related to prior years.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.