StockMarketWire.com - Global lifestyle brand Ted Baker reported a £23m loss before tax in its first-half results, as weak consumer spending hit retail sales.

Group revenue was down 0.7% to £303.8m in its interim results for the 28 weeks to 10 August 2019.

Retail sales, including ecommerce, decreased 2.5% to £214.5m, as sales in UK and Europe fell 3.9% to £141.3m, while in North America retail sales rose 3.1% to £63.7m during the period.

Chief executive Lindsay Page said: ‘We are continuing to pro-actively manage the significant challenges impacting our sector including weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce.

‘However, we are not immune to these pressures which have impacted our financial performance during the first half of the year.’

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