Saturday, November 25, 2017

Ted Baker’s profits surge by nearly 20%

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Ted Baker has released its Christmas trading results, reporting skyrocketing sales amid a struggling fashion sector.

In the eight weeks to January 7 the fashion retail chain recorded a 17.9 per cent rise in sales. This follows a 20 per cent rise in its last quarterly update.

Consistent sales increases were also seen in its online arm, which posted a 35 per cent rise in sales over the same period.

The retailer is continuing its expansion efforts across the globe, opening stores in China, India and Bahrain in recent months.


READ MORE: Ted Baker posts boost in sales amid struggling fashion sector


“Ted Baker has continued to perform well over the Christmas period against a tough trading backdrop,” chief executive Ray Kelvin said.

“This result reflects the appeal of the brand and the quality of our collections as well as the talent and commitment of our team.

“The strength of the brand and our multiple channels of distribution leave us well placed to continue the development of Ted Baker as a global lifestyle brand.”

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