Ted Baker says FY results delayed but will meet market views

Fashion retailer Ted Baker reiterated its 2023 financial targets on Monday as it delayed the release of its full-year results due to Covid-related disruption, but said they will meet market expectations.

Results for the 53 weeks to 30 January, which had been due this week, will now be published on 10 June. The delay, which was agreed with the company's auditor, BDO, "is a consequence of disruption caused by Covid on the audit processes".

"The group confirms that full year results will be in line with consensus expectations," it said. Ted Baker also reiterated the FY January 2023 financial targets outlined in its FY2020 preliminary results and then upgraded at the interim results in December 2020.

House broker Shore Capital said: "Following the recent Capital Markets Day with its new Global Head of Creative, we are confident that TED is making good strategic progress. As the roadmap out of lockdown continues, its refreshed offer and the prospect of a buoyant occasion wear market this A/W could prove very timely."