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Ted Baker and Babcock shares are soaring. Should I buy now? More on: It’s been a long time coming, but Babcock International (LSE: BAB) finally admitted last week that some of its contracts will be less profitable than expected. The news sent the Babcock share price up by more than 30%. This may not seem an obvious result, but the market cheered news that the company doesn’t need to raise extra cash. And although a 30% rise in one day is a big move, Babcock shares are still worth 20% less than they were one year ago. I think there could be more upside here. ....
Updated / Thursday, 11 Feb 2021 12:55 Ted Baker said today it now assumes that its UK stores will remain closed until the end of May Fashion brand Ted Baker said today it expects its UK stores to stay closed until the end of May due to coronavirus restrictions. This comes as it reported a 47% fall in fourth-quarter revenue, citing lockdowns and weak Christmas demand. Looking forward, we are taking a cautious planning approach and now assume that UK stores will remain closed until the end of May followed by a gradual recovery over the rest of the first half, its chief executive Rachel Osborne said. ....
Ted Baker has revealed that retail sales fell by nearly half in the quarter covering its usually strong Christmas period due to store closures and footfall moving away from city centres. It said they plummeted by 47 per cent between November 1 and late January, while it blamed more prudent demand from store-based trustees for its wholesale and licence revenues sinking 44 per cent. The firm, whose share price slumped 9 per cent today, now expects both retail and wholesale sales to remain depressed until the end of May before making a phased recovery in the first half of the financial year. Ted Baker was forced to shut all its UK outlets for most of the last three months as the government imposed two national lockdowns in England ....