Ted Baker achieves strong first half growth
Fashion retailer Ted Baker saw its retail sales climb by 20.1% to £168.2 million in the first half of its financial year.
Group revenue rose by 24.5% to £226.8 million in the 28 weeks to 15 August while pre-tax profit before exceptional items climbed by 23.4% to £17.8 million.
The company said it enjoyed strong trading across its established markets. In the UK and Europe retail sales were up 14.7% while in North America there was an increase of 37.4%. Meanwhile, Asia retail sales rose by 31%.
Ray Kelvin, founder and chief executive of Ted Baker, said: "This strong performance across all channels and territories is testament to the growing strength of Ted Baker as a leading global lifestyle brand. Through the passion of our team, supported by on-going and careful investment in the brand, we continue to attract customers both in the UK and overseas, who recognise our unwavering focus on quality, design and attention to detail.”
E-commerce sales surged by 63.6% to £22.9 million boosted by the launch of Ted Baker’s Canadian website in November 2014 and its Australian website in June 2015.
Looking at current trading, chairman David Bernstein said: “Sales in August were adversely impacted by a number of external factors, however, trading in September has been broadly in line with our expectations and our collections for the Autumn / Winter season have been well received.”
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