Ted Baker issues profit warning after writing off £5m of unsold stock

Shares dive as fashion retailer says full-year profits will be £10m lower than expected Ted Baker shares have dived by 11% after the fashion retailer warned investors that its full-year profits will be about £10m lower than expected mostly due to writing off the value of unsold clothes.The company, which was plunged into crisis last year when its founder and chief executive, Ray Kelvin, was accused of imposing a regime of “forced hugs” on staff , said it expected profits