British fashion label Ted Baker reported a slowdown in sales growth in the third quarter of its financial year, hit by a big drop in wholesale sales, and said it was cautious about prospects for the fourth quarter.
Mid-market clothes retailers will continue to lose market share to premium stores as shoppers, who have been saturated by product choice in recent years, become more selective, a report released on Thursday said.
Britain's Prologic , the specialist software provider to fashion retailers, on Friday became the latest victim of the country's retail downturn, issuing a profit warning that sent its shares down 43 percent.
Marks & Spencer is reining in investment, slashing costs and stepping up promotions amid signs of mounting pressure on consumers as banks tighten lending and house prices fall at the fastest rate for 17 years.
Clothing manufacturer and retailer Ted Baker said trading in the last two weeks has been adversely affected by growing economic turmoil. It announced a 5.4 percent increase in pretax profit for the first half.
Seymour Pierce upgraded British fashion chain Ted Baker to "buy" from "outperform," saying the company should benefit from a strong dollar, a relatively strong balance sheet and growth potential through new store open...