Ted Baker warns of £5m Brexit bill as festive sales slide

Ted Baker

Ted Baker has warned it faces £5m of additional costs associated with Britain’s exit from the EU as it grapples to revive its fortunes.

The fashion retailer said extra duty and shipping costs would only be “partially offset” by new customs warehouse capability.

Ted Baker cautioned of the additional outgoings as it revealed that revenues raked in during its crucial Christmas quarter almost halved as coronavirus-enforced lockdowns battered sales.

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:

  • Two free article views per calendar 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.