Fashion retailer Ted Baker saw retail sales rocket 19.4 per cent to £208 million in its full year as expansion continued both at home and abroad, figures released today reveal.
Pre-tax profit increased 19.2 per cent to £28.9 million in the 52 weeks ended January 26th 2013 while group revenue reached £254.5 million, up 18 per cent on a year earlier thanks to solid growth within the home market.
UK & European retail sales were up 11.1 per cent to £165.1 million while sales surged 68.3 per cent to £36.7 million as the retailer opened new stores in the ergions.
New stores opened in London, New York and Hong Kong over the year while Ted Baker also debuted in Japan, China and Canada.
Opening its first convessions in South Korea, Germany and the Netherlands, the retailer noted that wholesale sales had grown 12.2 per cent to £46.5 million.
Ray Kelvin CBE, Founder and CEO, said of the positive figures: “I am pleased to report another strong performance in what has been a very exciting year for the Ted Baker brand.
“We have continued to develop our presence internationally with our first stores in Japan, China and Canada and our first concessions in South Korea, Germany and the Netherlands opened during the year.
“Since the year end we have opened our second store in China in Shanghai, where we will also open our third store in the middle of the year. Further store and concessions openings are planned across all of our markets.”
Ted Baker also opened a store at London Heathrow airport during the year, featuring a cockpit and overhead storage as the retailer maintains its imaginative approach to design and Kelvin believes that such choices highlight the importance of working as a team while focusing on improving all areas of the business.
“This strong performance has been achieved despite a challenging and competitive trading environment and is testament to the strength of the brand, our collections and our people.
“I would like to take this opportunity to thank the entire team for their hard work during the year as we continue to build the Ted Baker brand on the world stage.”