Ted Baker reports strong full-year profit growth
Fashion retailer Ted Baker has reported a 23.7% jump in pre-tax profit before exceptional items for the year to 31 January 2015.
Profit was £49.5 million compared to £40 million in the previous year. Meanwhile, group revenue climbed by 20.4% to £387.6 million.
Ted Baker founder and chief executive Ray Kelvin said: "This was another excellent year as we continued to develop Ted Baker as a leading lifestyle brand across global markets and distribution channels.
“We continue to invest in the brand as we develop in new markets where we see long term growth. All the while, we remain totally focused on the quality, design and attention to detail which underpins every area of the group.”
Retail sales rose by 18.4% to £306.9 million. In the UK and Europe retail sales increased by 16.7% while growth in the US and Canada was 24.9%. E-commerce sales climbed by 58.2% to £36.7 million and wholesale sales rose by 28.5%.
The company said its retail business had started the new financial year well and that customers had responded positively to the Spring/Summer collections.
Looking at the stores, Ted Baker plans to open new stores in Stansted and in Spitalfields, London, which will showcase its licenced product range. In Europe, the company will open a new store in Amsterdam, its first Spanish outlet in Barcelona and further concessions in France, Germany, the Netherlands and Spain. In North America, the company will open four new stores and three outlets.
Ted Baker has 398 stores and concessions worldwide.
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