Five months, ago here, I observed that the ‘British luxury clothing retail company’ Ted Baker (TED) ‘remains a sell for me’. Their shares back then were at about a 155p share price and they finished Friday at a level of 130p. So even though the shares may be slightly up over the last year, any owner since 2017-18 has seen a near 90% share price fall.
At various points during the last five years, the ‘British luxury clothing retail company’ Ted Baker (TED) has been written about on this website, almost exclusively describing it as having a range of business issues. If only it was just losing money! And whilst the shares have pushed up over 75% since December (thanks general bump in the market!), over the last five years they are down a cool 92%, moving from a multi-billion market cap at one point to c£300 million today. The question today is whether it is even worth this?
Self-proclaimed ‘global lifestyle brand’ Ted Baker (TED) has announced interim results, emphasising “our balance sheet is materially stronger than we had envisaged this early in the plan… we are confident that we have the right strategy and team in place and that we are setting the business up for future success”. The shares have currently responded to around 120p, er more than 10% lower!…
The announcement today by Ted Baker (TED) that inventory was overstated by £58 million as of 31 January 2019, an overstatement of over a third of the revised number, was also materially higher than Board’s original estimate of £20 to £25 million will raise the usual questions about boards and auditors. It also raises the question of what can the ordinary investor should do to protect themselves.
Will Bidstack (BIDS) be £1 at Christmas as Justin the Clown predicted or will it crash with a lack of sales & profits warning. We know it is the latter, Justin is not stupid, just tied in by a busted business model at Vox which I again challenge him to discuss with me in a podcast. So far it is silence from the cowardly clown. I look at Futura Medical (FUM), cue flopping willy jokes, Ted Baker (TED) where I told y'all what would happen and Mothercare (MTC), ditto
Nothing to particularly excite in today's regulatory news disclosure crop. You know my bearish thoughts on Ted Baker (TED) and since I concluded in that piece that it was 'in short, a business still searching for a workable and profitable strategy', the shares have halved again, aided by today's profit warning and booting out of the Chair and the CEO. I reckon the pre and post Christmas sales in its shops may sport a bargain or two. By contrast, Watches of Switzerland (WOSG) is a stock that continues to perplex me…
Today's news is shocking but should not shock you as I have warned this would happen. Anyone invested in commercial property shares is insane for reasons I explain again and as for an open-ended fund they are even more insane. I also look at the latest accounting wrongdoing at Ted Baker (TED) and M&C Saatchi (SAA). Do no auditors show professional scepticism these days. Then there is comment on Tomco (TOM) and value destruction. Oh and there is a snake story too.
I ask a question which a year ago would have been something you would not have thought of asking: could Ted Baker (TED) go bust. Its shares, £17 a year ago, now trade at 470p valuing the business at just £212 million.
My cats are on a roll, It is horrfic. I mention this at the start just to annoy NoGold. Them ouzo for Nigel as Woodford Patient Capital Trust (WPCT) fesses up on a fake RNS. But it is still stuffed. I look at Bahamas Petroleum (BPC) as it dissembles, Brady (BRY) whose shares should be suspended, Clear Leisure (CLP) and a joke deal and Ted Baker (TED) which seems fecked.
I have been in a Ted Baker (TED) shop and - as it happens - I do have a couple of Ted Baker-branded items. I have never really worked out why it was successful though and certainly - erroneously it seems for many years - have never got to close to actually investing in the retailer. Given the share has fallen today to a six year plus low, I am not that disappointed…
I start with a discussion of the gender pay gap in football and why it is so much hogwash. Then I look at Neil Woodford and the useless FCA. Then I cover two stocks I own, Fox Marble (FOX) and Venn Life (VENN), and two which I don't Ted Baker (TED) and then a long term target of mine MPorium (MPM), a tale of AIM woe.
In December 2018 Ted Baker (TED) brought in lawyers Herbert Smith Freehills to investigate allegations that its founder and CEO Ray Kelvin had groped members of staff. That enquiry is ongoing but will now focus on Ted Baker's internal controls. Kelvin insists he is innocent but has now quit with immediate effect. In light of that, we bring you two images from Baker's last annual report (which showed Kelvin trousering £1.6 million) and ask you to supply suitable captions on the comments section below by midnight tonight. As ever, the winner will receive a semi naked photo of Britain's top share blogger (mornings only), Thirsty Paul Scott.
On Friday evening at 4.27pm – just as the city was packing its bags for the weekend – fully listed Ted Baker (TED) released an RNS announcing that its embattled CEO was to take a leave of absence. The shares, which had been trading at around £15.20, crashed into the close and ended the day on a spread of £14.58-14.79, and an official close of £14.93 – but I fancy there will be more weakness to come as the city returns to work on Monday.
Hello Share Twiners. Clothing firms face an uncertain future in my view. Even a company with a high reputation like Ted Baker (TED) does not have shares I would buy at the moment. The company’s latest half-year numbers showed that profits have dipped by 3.2%.