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Ted Baker sales up 35% in fourth quarter despite impact of Omicron

Ted Baker has seen its fourth quarter sales increase by 35% year-on-year as customers responded well to its new collections. In the 12-week period to 29… View Article

FASHION

Ted Baker sales up 35% in fourth quarter despite impact of Omicron

Ted Baker has seen its fourth quarter sales increase by 35% year-on-year as customers responded well to its new collections.

In the 12-week period to 29 January, sales were up 18% on the prior quarter.

The fashion retailer said it successfully navigated global supply chain disruptions in the period, which had a modest impact on product availability.

It also revealed that its autumn/winter womenswear collections performed well with strong sales across the bags, footwear and tops categories. However, the performance within menswear was more mixed.

Meanwhile, trading margin improved by over 350 bps across all channels in the period.

Rachel Osborne, chief executive of Ted Baker, said: “We continue to make good progress with our transformation and despite the impact of Omicron on the quarter, were pleased to deliver group sales up 35% compared with last year. The strong improvement in trading margin is encouraging, along with the increase in full price sales mix, demonstrating the progress we’re making as Ted re-establishes its premium brand positioning.”

The company also said that work is well underway to recruit a new chair to succeed John Barton who died suddenly last year.

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