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Ted Baker finance boss heads to Mulberry

Charles Anderson, finance director for lifestyle retailer Ted Baker’s subsidiaries, has left the business to join luxury brand Mulberry as its new group finance director.

Anderson will join the business from October and will also join Mulberry’s board of directors. He replaces Neil Ritchie, who stepped down in June this year.

Most recently, Anderson was finance director of the Ted Baker group’s subsidiaries, and he has worked at the lifestyle retailer for the past 17 years.

Ted Baker has had a turbulent year. Founder and CEO Ray Kelvin departed in March following allegations about his conduct. In June, the retailer issued a profit warning, saying that as a result of “extremely difficult” trading conditions, heavy discounting and consumer uncertainty across key markets full-year profits were expected to be in the range of £50m to £60m. 

Meanwhile, Mulberry made a loss before tax of £5m in the 53 weeks to 30 March, down from a profit of £6.9m in 2018, amid a “challenging” UK market. Revenue fell 2% for the year to £166.3m. International sales were up 7%, but UK sales declined 6%. Adjusted profit before tax for the period fell 87.5% to £1m.

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