Ted Baker opened its first standalone store in Dublin last week, as its retail arm posted a healthy rise in sales.
The Grafton Street store will strengthen the lifestyle retailer’s presence in the Republic of Ireland. The brand is already sold in Arnotts and Brown Thomas in Dublin.
Ted Baker also plans to open stores in Brighton and Miami in the US by the end of the year. Turnover rose 8.3% to £66.2 million for the 28 weeks to August 11, boosted by strong performances from its stores and licensing operations. Pre-tax profits were flat at £7m. Retail sales rose 15.1% to £45.5m. Wholesale sales continued to fall, down 4.1% to £20.8m. This was in line with expectations, following a strategy to streamline distribution.
Ted Baker chief executive Ray Kelvin said the bulk of the wholesale review had been completed, but that it was an ongoing process.
He said: “We’re always looking at the adjacencies, but it may even be that retailers become appropriate for the brand and more accounts will be opened.”