The company’s stock fell as much as 36% to the lowest level in more than eight years in London trading on Thursday.
Revenue fell 0.7% in the first six months and performance will be below last year’s levels for the full year if current trends persist, the company said in a statement Thursday.
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The chain has hit a rock since the resignation of founder Ray Kelvin, after allegations that he gave employees unwanted hugs.
The company’s February profit warning had cited currency movements and other challenges unrelated to Mr Kelvin’s resignation.
Ted Baker named Lindsay Page as chief executive officer in April after filling the role in an acting role since December, when Mr Kelvin went on leave before later resigning.