Ted aiming to be top of the pop-ups
FASHION chain Ted Baker is planning pop-up shops in small towns after sales were hit by a slump in city commuters.
The firm is looking at opening stores for less than six months in areas it has not explored before.
Boss Rachel Osborne said: “Clearly we have the option to expand those lease terms.”
It came as Ted Baker was left counting the cost of the Covid crisis as sales in the year to the end of January tumbled 44 per cent to £352million and losses grew from £77.6million to £107.7million.
Ted Baker, which cut nearly 1,000 jobs and raised money through a stock issue to get through the crisis, is undergoing a three-year turnaround plan focused on saving £31million a year.
It also plans to strengthen online, with £11million earmarked for its e-commerce site’s revamp.