Profits up 3.5% for Ted Baker despite “challenging trading”

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Ted Baker on Thursday posted a 3.5 per cent rise in profits before tax and exceptional items in the six months to August 11.

The fashion brand said group revenue was also up 3.5 per cent to £306 million for the 28 week period, with a hard-won 1.1 per cent rise in overall retail sales that included e-commerce.

In the UK and Europe, retail sales were up 1 per cent to £147.1 million.

Online, sales were up 24.1 per cent to £53 million, while Ted Baker added another two physical UK stores to its portfolio for the period. 

“Ted Baker has continued to develop and expand as a global lifestyle brand across its markets and distribution channels despite challenging external trading conditions,” founder and chief executive Ray Kelvin said.

“This continued growth is testament to the strength of the Ted Baker brand, the design and quality of our collections as well as the dedication and talent of our teams.”

Kelvin noted that the company expects the second half of the year to “remain challenging” due to wider factors within the retail industry, but that the brand is “well positioned to continue Ted Baker’s long-term development”.

“Our flexible business model ensures that our customer has multiple channels to engage with Ted Baker and our global e-commerce business continues to expand, supported by our digital marketing strategy and unique stores that showcase the brand,” he added.

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