Ms Page was only appointed as CEO in April this year.

She said: “I would like to thank everyone at Ted Baker whom I have had the pleasure of working with since 1997. In particular, I am grateful for the team’s support over the last 12 months.”

“Ted Baker continues to be a very strong global brand and I wish Rachel Osborne and the rest of the team every success in achieving further growth.”

Mr Bernstein stepped down with immediate effect and did not provide a comment on his resignation.

Earlier this month, Ted Baker also announced an accountancy issue where the company might have overstated the value of its stock by between £20 million and £25m.

The miscalculation, which analysts labelled as a ‘blunder’ resulted in the company’s shares falling by 10%.

Ted Baker also released an updated full-year outlook and trading update today. The update stated that the company’s expectations for the period ending 25th January 2020 have been reduced to a minimum profit before tax of £5m, with a potential outcome of up to £10m dependent on Christmas trading and final year-end review.

The update highlighted that throughout November and the Black Friday period trading at Ted Baker was below expectations, with lower than anticipated margins and sell through.

In light of this, the retailer said “it is appropriate to take a more cautious outlook for the remainder of the financial year, which includes the key trading months of December 2019 and January 2020”.

Ted Baker said in its trading update: “The last 12 months have undoubtedly been the most challenging in our history, yet the Ted Baker brand remains well supported by our customers, partners and trustees and we appreciate their ongoing support.

“We are taking the necessary immediate actions to address underperformance and improve efficiencies across the wider Group and are confident that these will return the Group to a stronger position and continue the Brand’s long-term development.”