June 11, 2019 / 6:19 AM / 2 months ago

Ted Baker profit forecast low after "challenging" start to 2019

June 11 (Reuters) - Fashion retailer Ted Baker forecast annual underlying profit below the current consensus of analysts’ estimates on Tuesday, citing unseasonable weather in North America and a “challenging” start to the year.

The company, which made Lindsay Page chief executive officer in April after the departure of founder Ray Kelvin following misconduct allegations, said it was actively focussing on cost control and marketing as a result.

It expected underlying profit before tax for the year to January 2020 of 50 million pounds to 60 million pounds.

According to Refinitiv Eikon data, market analysts had been expecting profit before tax of 72.40 million pounds ($91.82 million). ($1 = 0.7885 pounds) (Reporting by Shashwat Awasthi in Bengaluru; editing by Patrick Graham)

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