Connecting to LinkedIn...

Is Ted Baker becoming a global lifestyle brand?

W1siziisijiwmtuvmtavmdyvmdkvmtkvmzcvmjcwl1rlzcbmaw5hbc5qcgcixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Ted Baker’s sales jumped 24.5% to £226.8m for the 28 weeks ended August 15. 

The British retailer’s ecommerce sales grew a stellar 64%, with wholesale sales up 39.1% to £58.6m and licence income having increased by 16.7% to £6.4m. 

Geographically, the upmarket fashion retailer performed well in all of its regions. North America was the most notable market, as sales soared 37.4% to £39.7m. This was followed by Asia where sales rose 31% to £6.7m. Across the UK and Europe, retail sales grew 14.7% to £120.9m. 

The womenswear category, which accounts for more than half of total sales, continues to do well, up 22.5% to £130.9m. Meanwhile menswear, a division rising in popularity across several retailers, was up by 27.4% to £95.5m. 

Ted Baker’s estate portfolio is now 184-stores strong in the UK, with 86 in continental Europe, 79 in North America, 60 in the Middle East and Asia and seven in Australasia. 

The upmarket fashion retailer opened new stores in the UK, Canada and Hong Kong, an outlet in South Koreafurther concessions in department stores across all of its territories as well as licensed stores in Azerbaijan, Dubai, Qatar, Saudi Arabia, Taiwan and Thailand during the period. It also opened its first specialist shop not devoted to clothes in June. The Spitalfields branch, which showcases headphones, glasses and has a grooming room, is an attempt to take the company one step closer to becoming a “global lifestyle brand”. 

“This strong performance across all channels and territories is testament to the growing strength of Ted Baker,” said Founder and Chief Exec Ray Kelvin. 

Whilst we have made a strong start to the financial year, our results for the full year will, as always, be dependent on the more weighted second half trading period, added Non-Executive Chairman David Bernstein said. 

Published on Tuesday 06 October by Veebs Sabharwal

Articles similar to Ted Baker

Articles similar to Financial results

comments powered by Disqus