Profits rise by a third at Ted Baker

Fashion brand Ted Baker says early trading has been positive as the group continued its expansion into international markets.

The brand, known for its understated style, published a group revenue rise of 30.9 per cent to £155.2m for the 28 weeks ended 10 August 2013.

“Underlying our strategy is an emphasis on design, product quality and attention to detail, which is delivered by the passion, commitment and dedication of our teams, licence partners and wholesale customers,” said David Bernstein, Non-Executive Chairman, Ted Baker.

The brand also posted strong sales uplifts across Europe and Asia.

Retail sales in Asia were up 78.6 per cent to £5m and UK and European sales were up 22.6 per cent to £91.6m.

The brand, which has 341 stores and concessions worldwide, opened two new stores in the first half of the year including an outlet in Shanghai, China. The group, which increased wholesales sales by 33.4 per cent to £33.2m in H1, has performed well in comparison to rivals French Connection who have struggled to maintain market share.

Neil Saunders, Managing Director of Conlumino, said the results confirmed Ted Baker is making excellent progress on its aspiration to become a global lifestyle brand.

He said: “(The latest set of results) demonstrate the ability of collections to pique consumer interest and stimulate spending. Products are always on trend with many having a unique twist that is distinctly Ted Baker; this helps to differentiate from competitors, insulating against discounting and giving Ted Baker something of a destination status.”

Ted Baker is moving into the Middle East, with store openings in Beirut, Kuwait, Abu Dhabi and Dubai planned.

Interim dividends rose 20.3 per cent to 9.5p.


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