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Ted Baker sees retail sales grow by 13%

Designer fashion brand Ted Baker has announced a 12.5% rise in first-half profit to £8.5 million. Revenues increased by 17% to £102.8 million thanks to a 13% increase in retail sales.

CITY & CORPORATE

Ted Baker sees retail sales grow by 13%

Designer fashion brand Ted Baker has announced a 12.5% rise in first-half profit to £8.5 million. Revenues increased by 17% to £102.8 million thanks to a 13% increase in retail sales.

Online sales grew by 29.9% compared to the same period last year following the launch of a Click & Collect service during the period.

The retailer said there had been a positive reaction to its Autumn/Winter collections and announced the opening of a new store in New York's Fifth Avenue next year. New stores have recently opened in Manchester, Paris and Hong Kong.
 
However, the retailer remains cautious about the  future outlook. Ray Kelvin CBE, founder and chief executive, said: "Whilst we have made a good start to the financial year, our results for the full year will be dependent on trading in the second half of the financial year and, at this stage, we remain cautious given the uncertain macroeconomic environment. Our costs and commitments remain under control and, with our strong balance sheet, we will continue to invest in the long term development of the Ted Baker brand."

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