Fashion retailer Ted Baker Plc warned that business conditions will be challenging across many of its markets, adding to a slew of downbeat updates from U.K. retail chains.

Ted Baker’s gloomy outlook has been compounded by recent snowfall in a series of storms dubbed the “beasts from the east,” which held back sales of its spring-summer ranges, the company said in a statement Thursday. The shares fell as much as 8.7 percent, the most since June 2016.

The dwindling number of shoppers in U.K. town centers and recent unhelpful weather means “a more cautious stance is appropriate,” Liberum analyst Wayne Brown said by email.

Ted Baker has been one of the few strong performers in a U.K. fashion industry that’s been losing its share of consumer spending to restaurants and other leisure activities. The retailer’s comments will increase investor caution surrounding market leader…