Shares in Ted Baker fell as much as 14 percent in morning trading.
The fashion retailer warned of a “challenging” period ahead, whilst posting a 3.2 percent fall in pre-tax profits.
Similarly to Moss Bros (LON: MOSB), the group blamed factors including the “unseasonable weather” seen during the Beast from the East followed by the summer heatwave.
In more positive results, revenues rose 3.5 percent to £306 million in the six months to August 11 and e-commerce sales grew by 24 percent to £53 million.
Pre-tax profits were also partly hit by the collapse of House of Fraser, which cost Ted Baker an estimated £600,000.
David Bernstein, the non-executive chairman, said: “We have a very clear strategy for the continued expansion of Ted Baker as a global lifestyle brand across both established and newer markets. Our flexible business model ensures that our customers have multiple channels to engage with the brand.”
“Our growing e-commerce business, underpinned by stores that showcase the brand, mean that we are well positioned to deal with the structural changes in an evolving retail environment and continue Ted Baker’s long-term development.”
He added: “The board is mindful of the uncertainties in its markets over the second half of the year, but remains focused on making further progress for the full year. We intend to make our next trading update, covering the period since the start of the second half of the financial year, in early December”
The fashion retailer expects to open eight new stores in the next year across Europe and the US.
The FTSE 250 company currently has over 500 physical locations.
George Salmon, equity analyst at Hargreaves Lansdown stockbrokers, said: “The group is clearly up against it for the rest of the year, and this will dampen investors’ spirits.”
“However, Ted has delivered excellent results for shareholders over the last 10 years, and this track record shouldn’t be discounted just yet.”
“Still, to make the next decade just as strong, improvements are needed sharpish.”
Shares in the group (LON: TED) are currently trading down 9.97 percent at 2.078,00 (1308GMT).
