Upmarket British retailer Ted Baker on Monday reported an underlying loss for the pandemic-hit fiscal 2021 and said its first-quarter revenue for the

Struggling British fashion retailer Ted Baker has refinanced by extending a revolving credit facility with its existing syndicate of lending banks,

Ted Baker said on Thursday its fourth-quarter revenue fell 47 percent, hit by coronavirus-led store closures in Britain along with weak demand during

This week, Macy’s veteran Jennifer Johnson is promoted to director of ready-to-wear, while Vanity Fair appoints Nicole Chapoteau to fashion director.

The struggling British retailer saw its shares rise 16 percent and online sales jump 35 percent in the 11 weeks to July 18.

The retailer plans to axe at least 500 jobs, including 200 from its London head office, according to the Sunday Times.

An advisory firm said the company’s decision to increase executive salaries and bonuses is not justified.

The funding comes amid plans to reduce costs and shift toward online sales.