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Ted Baker profits rise 5.4%

Ted Baker’s profit before tax rose 5.4% to £7.4 million for the 28 weeks to August 9.

Group sales rose 8.2% to £71.6m with the retail division posting a 17.5% rise to £53.3m. However, wholesale sales fell 12.1% to £18.3m.

The group’s licence income was up 26.1% to £2.9m.

Chief executive Ray Kelvin said that the performance was good in a difficult trading environment.

“The board is, however, mindful of the uncertain economic environment and we remain understandably cautious about trading in the second half of the year,” he added.

“The group has performed well during the first half of the year and strength of the Ted Baker brand combined with our successful multi-channel distribution strategy and careful international expansion has enabled us to deliver good growth for the period in an unpredictable market.

He added that the initial response to autumn and winter ranges had been positive.

During the reporting period the group opened a second womenswear only store in South Molton Street in London, as well as Ted Baker stores in London’s Cheapside, Heathrow Terminal 5, Belfast and Cambridge.

Stores in Bristol and Liverpool also opened since the period end and a shop in Westfield London at White City will open later this month.

Readers' comments (1)

  • Through the gloom and despondency of the UK retail market there is a common theme coming through from retailers like M&S, Ted Baker and Mosaic. Things may be tough 'at home' but International is where it's at!

    M&S is suffering but not overseas; Tesco is on a roll, thanks to its continuing international initiatives; Ted Baker is a growing world brand; Karen Millen of Mosaic has nearly half its sales overseas!

    So what does this tell us? Well, for every 1 person in the UK there are roughly 100 out there on the planet. Companies that choose their targets wisely can ride the storm. Businesses with a 'balanced portfolio of target markets' can ride the storm.....look for the markets that continue to do well, e.g. Middle East, India, China, ....there are some big sales numbers to be had!

    Ironically, it is retail SME's that can potentially change strategy quickly (with the right help) these cases, it could mean the difference between survival or extinction.

    Geoff Smith, Retail Brand Marketing

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