Ted Baker chief executive Ray Kelvin resigns following misconduct allegations March 4, 2019 Ted Baker chief executive Ray Kelvin resigned with immediate effect on Monday morning following allegations of harassment late last year. Kelvin has denied all allegations, including claims the chief executive and founder harassed female staff members with "forced hugs" and unwanted attention. His resignation follows a period of voluntary leave since the start of December when the [...]
Under-fire Ted Baker issues profit warning as shares plunge February 27, 2019 Ted Baker warned investors of a £10m hit to profits for its full year this morning, blaming a series of unexpected blows to its bottom line. Profit before tax for the year to the end of January is now expected to fall in the region of £63m, sending shares crashing 13 per cent to 1,734p. [...]
Retail sector suffers worst Christmas in a decade as sales stagnate January 10, 2019 The UK retail sector has suffered its worst Christmas in a decade as sales stagnated during the crucial festive period, despite a string of positive updates offering a glimmer of hope. Overall retail sales were flat in December, the lowest level of growth since April and the worst festive performance since 2008, according to figures [...]
Ted Baker posts Christmas sales rise despite chairman harassment investigation January 9, 2019 Ted Baker today reported double-digit sales growth over the festive period as it proved resilient to retail fears and an investigation into its founder. The fashion brand said retail sales increased by 12.2 per cent in the five weeks to 5 January compared to the same period last year. The growth was spurred on by [...]
Competition and Markets Authority to recommend market share cap for Big Four audit firms December 13, 2018 The UK's top four audit firms are facing a market share cap to encourage competition from smaller companies as the sector comes under increased scrutiny following a number of high profile corporate collapses. The Competition and Markets Authority (CMA) is expected to recommend a limit on the number of large listed companies that the so-called Big [...]
Editor’s Notes: The Bank of England must protect its independence December 7, 2018 Former chair of the US Federal Reserve Janet Yellen once said “the principle that a central bank should be independent from the government is unassailable.” Donald Trump probably thinks unassailable means you can’t sell it, but even if he understood Yellan’s point he seems determined to ignore it. His broadsides against Fed policy are quite [...]
Ted Baker appoints law firm Herbert Smith Freehills to probe hugging claims December 6, 2018 Fashion chain Ted Baker said this morning it has appointed law firm Herbert Smith Freehills (HSF) to investigate claims of forced hugging by its boss Ray Kelvin. The Ftse 250 chain’s shares have been battered since the news emerged that the fashion retailer has launched an internal investigation into harassment claims. In a trading update [...]
Ted Baker’s share price slides further in wake of ‘forced hugging’ complaints December 4, 2018 Ted Baker's share price slumped more than 10 per cent in trading this morning as the City continued to digest the news of harassment allegations surrounding the luxury retail firm’s boss. Shares dipped almost 11 per cent to 1,387p today, having dived 15 per cent yesterday. Yesterday the FTSE 250 firm’s board said it had launched [...]
DEBATE: Are we at risk of overreacting to the story of ‘forced hugging’ at Ted Baker? December 4, 2018 Are we at risk of overreacting to the story of ‘forced hugging’ at Ted Baker? Dr Joanna Williams, author of Women vs Feminism: Why We All Need Liberating from the Gender Wars, says YES. Alarming stories of sleazy bosses taking advantage of vulnerable young women can make it seem as if the workplace hasn’t changed since the 1960s. [...]
Ted Baker launches investigation into harassment claims against ‘forced hugs’ boss December 3, 2018 Ted Baker has launched an internal investigation into claims its chief executive and founder harassed female staff members. The FTSE 250 firm’s shares took a dive this morning, dropping more than 14 per cent in early trading. In an statement released today, the fashion retailer’s board said it has launched a “thorough and urgent” external [...]