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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ted Baker | TBK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 626.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 626.50 | 626.50 |
| Top Posts |
|---|
Posted at 31/12/2008 09:20 by shroder From The TimesDecember 31, 2008 City fears early sales will fail to lift retail figures Marcus Leroux and Robert Lindsay The City is bracing for a rash of retail profit warnings next week and fears a fresh run of bad news from Marks & Spencer. Analysts said that a late burst of discount-driven spending had failed to rescue like-for-like sales and further eroded profit margins. M&S is expected to announce a profit warning when it reports third-quarter performance a week from today. Like-for-like sales are said to be down by as much as 15 per cent. Freddie George, at Seymour Pierce, the investment bank and stockbroker, said: "As with last year, we believe the trading statement will disappoint, 2009-10 profits will be downgraded and the 2008-09 dividend will inevitably be cut. The debt covenants are now becoming an issue." Related Links * Setback for Tom Hunter as USC chain fails * Adams follows fashion for retailers to go under Sir Stuart Rose, M&S's executive chairman, said last month that he would attempt to maintain the dividend at the group's half-year results. But the group's commitment to trim its approximate £3 billion debt means that, in the face of the slump in sterling and torrid trading conditions, it was likely to have to slash the payment. Concern was also mounting last night over Debenhams's £1 billion debt. Yesterday the department store chain's debt was trading at only 58p in the pound. It also updates the City with trading news next week. Debenhams, Britain's largest department store group, will seek to reassure investors on its debt. It is not expected to breach its covenants in the next six months but there are concerns that its facilities may be reduced because its banks include HBOS and Lloyds TSB, which are set to merge. The group's net debt stood at £994 million on August 30, it revealed last month. Its senior debt was trading at 58p in the pound, down from 76p on October 1, reflecting heightened anxiety over its trading performance and a wider pessimism on debt markets. Measures to reduce debt will be on the agenda when the Debenhams board meets but it is not thought to be considering a fresh equity injection. In the first half of the year Debenhams attempted to whittle down its debt by offering dividends in shares rather than cash and by cutting its capital expenditure to £90 million. Analysts have said that fashion retailers appear to be the next sector likely to suffer after the furniture and DIY sectors were ravaged by a combination of declining consumer confidence and the housing slump. As well as battling against the consumer slowdown, clothing retailers have been particularly exposed to the slump in sterling's value. M&S, which is Britain's biggest clothes retailer by volume, imports an estimated 75 per cent of its clothes. USC, the designer fashion shop owned by Sir Tom Hunter's West Coast Capital, went into administration on Monday, following The Officers Club. Adams, the children's clothing chain, is on the brink of calling in administrators. The Times disclosed this month that Peter Simon, the entrepreneur behind Monsoon Accessorize, wrote to the group's suppliers telling them they would need to give leeway in terms of profit margins and payment terms because of the depreciation of the pound. Separately, Asda last night cast light on the last-minute rush to the shops before Christmas when it said that December 23 was its busiest-ever day's trading. The number of shoppers going into stores rose sharply, by 12.5 per cent in the week beginning December 22, according to footfall figures released by Experian. Anita Manan, a senior analyst at Experian Business Strategies, said: "This recent surge in shoppers to the high street may be short-lived as reality kicks in for consumers who will face the first credit card bill of the year, together with job insecurities and recession worries impacting confidence, which may force consumers to tighten their purse strings." |
Posted at 29/12/2008 12:17 by shroder From The Sunday TimesDecember 28, 2008 Clothing chain Adams cut down by retail wipeout Ben Marlow THE retail crisis claimed another victim this weekend with childrenswear chain Adams, which has 260 stores in the UK and 116 overseas, poised to go into administration. Adams, which makes clothes for Boots as well as trading through its own outlets, employs about 2,000 staff. It is expected to appoint accountants Price Waterhouse Coopers as administrator this week. The demise of Adams, which follows hard on the heels of the collapse of Whittard, the tea and coffee retailer, and music chain Zavvi, comes despite record numbers of shoppers thronging UK high streets since Christmas to take advantage of the big discounts on offer. According to retail analyst Springboard, shops were 2.3% busier on Boxing Day than on the same day last year. London's West End, which includes Oxford Street, Regent Street and Bond Street, experienced a 3.5% increase in custom as half a million shoppers descended on the area for the day. Related Links * Zavvi goes under in more High Street pain * Whittard collapses as EPIC plans a deal The frenetic activity masks a grim outlook for retailers. Among the firms thought to be vulnerable are: Focus DIY, which is renegotiating its rental arrangements and has closed stores; specialist camera shop Jessops, which has given warrants on shares to HSBC in return for a loan extension; and greetings-card chain Clinton Cards, which is reliant on short-term financing. Others are Sir Tom Hunter's garden-centre business Wyevale, which has completed a debt-for-equity swap with its banks; and quoted furniture shop Land Of Leather, which has rejected offers for the business. Even the largest players are not immune to the downturn. Analysts now think Marks & Spencer will be forced to issue a profit warning when it unveils its interim management statement next week. City sources think, however, that it is unlikely M&S will have to reduce its dividend payment to shareholders immediately, although that could follow later in the year. There is also the prospect of a high-street shake-up triggered by the sale of assets now part-controlled by the government of Iceland following the collapse of Baugur, the Icelandic investment firm, and Icelandic banks, which were heavy investors in British retailers. Icelandic ministers were said to be considering a rapid sell-off of their newly acquired assets, which could put household names like House of Fraser, Hamleys and Karen Millen into play. But retail bankers cautioned that the complicated ownership structure of the groups meant few were completely controlled by the Icelanders, but had multiple investors. The demise of Adams comes less than two years after it was rescued from administration by entrepreneur John Shannon for £15m. Shannon, who made a fortune selling his stake in shoe chain Stead & Simpson, had hoped to turn Adams into "Topshop for kids". Shannon's restructuring of the company enabled it recently to turn in a small operating profit of £1.3m. Turnover for 2008 was £160m, leading chief executive David Carter-Johnson reportedly to say that the company was out of "intensive care". However, a sharp deterioration in trading, combined with overwhelming competition from supermarket chains, has left it unable to service all its debts. It is understood that pressure in recent weeks from a number of trade creditors pushed the company over the edge. The chain owes £10m to Burdale, an arm of the Bank of Ireland, and just over £20m to Shannon, who owns 100% of the company's shares. Both are expected to get most of their money back. The company is expected to continue trading while it begins the search for a new owner. Any buyer is likely to reduce the number of stores by at least 20% and focus on its best-performing outlets. The company had already closed 42 branches before it was bought by Shannon. As well as the Adams chain, the parent company also owns the Mini Mode children's clothing brand designed for Boots and sold in 330 of the chemist's UK stores. Boots and J Sainsbury, the supermarket chain, are regarded as possible buyers for the Adams brand. News of Adams's troubles comes days after three large retailers, Whittard, Officers Club and Zavvi, named in The Sunday Times the previous week as being on a "critical list", slipped into administration. Insolvency specialist Begbies Traynor has predicted the collapse of between 10 and 15 national retail chains by mid-January as the recession bites. Last week, Seymour Pierce retail analyst Freddie George interviewed 22 large retailers and concluded: "It's official - this will be the worst Christmas for many years . . . the weak sales trend and the intense discount activity will continue well beyond January 2009, and lead to a further step down in 2009/10 profit forecasts." Company Watch, the independent analysis firm, said it could identify 20 or more retailers that were extremely weak financially. "Some of these we term 'waterskiers'," said chief executive Guenter Steinitz. "These are profitable companies with balance sheets that are severely stretched and are kept afloat only so long as they have sufficient continuing profitable sales pulling them along. As soon as that stops, they find themselves in deep water with no lifeline, and they're gone." |
Posted at 30/1/2007 23:10 by tameboy "Ted Baker CEO Kelvin sells shares to satisfay demandLONDON (AFX) - Clothing designer brand Ted Baker PLC said chief executive Ray Kelvin has sold 200,000 ordinary shares in the company at 645 pence per share to satisfy institutional demand. Kelvin now holds 16,537,276 shares representing 38.8 pct" Does 'satisfy institutional demand' mean large investors? I wish more people would come to this board and share in the delights of this stock. I feel very lonely. |
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