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Ted Baker share price: what’s the latest ahead of its Christmas trading update?

The British fashion retailer will unveil its Christmas trading update next week, with investors hoping for a sales boost after the company issued a profit warning in the wake of its CEO stepping down in December.

Ted Baker will unveil its Christmas trading update on January 9, with investors hoping the company will benefit from a sales boost after the it issued a profit warning ahead of the festive period.

The British fashion retailer saw its share price fall more than 13% to 346p on December 10 after scrapping its dividend payments and issuing a profit warning in the wake of then CEO Lindsey Page and chairman David Bernstein both stepping down.

However, since then the stock has recovered the ground it lost, with it trading at 430p a share as of 15:15 GMT on Monday, with a strong Christmas trading update capable of driving its share price higher.

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Ted Baker downgrades full-year guidance

The departures in early December came alongside a trading update that saw the retailer downgrade its full-year guidance.

The company now expects pre-tax profit for the year to come in between £5 million - £10 million (dependent on Christmas trading). Analysts had previously expected pre-tax profit to come in at around £27 million.

‘An anticipation that difficult trading conditions will continue, and therefore it is appropriate to take a more cautious outlook for the remainder of the financial year, which includes the key trading months of December 2019 and January 2020,’ the company said.

The company also admitted that the last 12 months have been ‘the most challenging’ in its history.

‘We are taking the necessary immediate actions to address underperformance and improve efficiencies across the wider group and are confident that these will return the group to a stronger position and continue the brand's long-term development,’ the company added.

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Analysts pessimistic about the Ted Baker share price?

Analysts from Peel Hunt, HSBC and Goldman Sachs all downgraded their target prices for Ted Baker in December in response to its profit warning, with the three banks issuing targets of 300p, 345p and 390p respectively.

Based on the stock trading at 430p a share, analysts from the three banks believe that the Ted Baker share price has a potential downside of between -9% and -30%.

It is worth noting that the stock has performed well since its profit warning and that a strong Christmas trading update could see analysts change their outlook in January.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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