June 1, 2020 / 6:26 AM / a month ago

Ted Baker leans on cash call as results disappoint

June 1 (Reuters) - Fashion brand Ted Baker on Monday rolled out plans to raise 95 million pounds ($117.84 million) through a stock issue to help it ride out the challenges posed by the coronavirus, after reporting a loss of 79.9 million pounds for the year to January.

The company’s revenue slumped 36% for the 14-week period from Jan. 26 to May 2, mainly due to the stay-at-home orders to prevent the spread of COVID-19. ($1 = 0.8062 pounds) (Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur)

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