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Ted Baker posts strong full-year profit rise

Fashion retailer Ted Baker has reported a 26.7% jump in pre-tax profit before exceptional costs for the year to 25 January 2014.

GENERAL MERCHANDISE

Ted Baker posts strong full-year profit rise

Fashion retailer Ted Baker has reported a 26.7% jump in pre-tax profit before exceptional costs for the year to 25 January 2014.

While pre-tax profits before exceptionals reached £40 million, group revenue increased by 26.5% to £321.9 million. Retail sales climbed 24.6% to £259.1 million.

Founder and chief executive Ray Kelvin said the retailer had continued to invest in the business to support expansion during the year. This included the launch of a new e-commerce platform which had provided opportunities for future growth and multi-channel developments.

In the UK and Europe retail sales were up 20.3% to £198.6 while in the US and Canada they rose by 38.1% to £50.7 million.

Online sales surged by 55.7% to £23.2 million.

Kelvin added: “This has been another excellent year during which we have continued to build Ted Baker as a global lifestyle brand. We have further developed our presence internationally and invested in markets where we see long term growth opportunities whilst remaining unwavering in our focus on quality, design and attention to detail that underpins everything we do.”

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