// 3 Ted Baker execs are to embark on a week-long financial charm offensive after the half-year results tomorrow
// The bosses are reportedly going to court fund managers
// Meetings come amid speculation that founder Ray Kelvin is plotting to take Ted Baker private
Three senior Ted Baker executives are reportedly set to embark on a week-long financial charm offensive after the fashion retailer reveals its half-year results tomorrow.
According to The Telegraph, chief executive officer Lindsay Page, outgoing chief financial officer Charles Anderson and commercial director Phil Cark have set up meetings with fund managers in London and Edinburgh.
One Top 20 shareholder told the national broadsheet that the fashion retailer could be looking to ask the City for cash.
The meetings are planned amid speculation that Ted Baker founder and former chief executive Ray Kelvin – who retains a 35 per cent stake in the business – is preparing a move to take it private.
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Ted Baker has so far issued two two profit warnings this year, and its share price has plummeted by almost 40 per cent in the year to date.
The upmarket retailer previously stated that ongoing consumer uncertainty and higher levels of promotional activity would leave a dent in its pre-tax profit for the year ending January 25.
Tomorrow’s half-year trading update is expected to include a cut to dividends.
Kelvin was forced to resigned in March following a wave of sexual harassment allegations.
Last week, Ted Baker announced it had poached Debenhams chief financial officer Rachel Osborne to replace Anderson as its new finance chief.