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Ted Baker sales edge up

Group revenue at Ted Baker increased 3.5% year on year to £306m for the 28 weeks to 11 August, despite “challenging trading conditions”.

Profit before tax, however, slipped 3.2% compared to the same period last year to £24.5m. Profit before tax and exceptional items was up 3.5% on 2017 to £25m.

Retail sales including online edged up 1.1% to £220.1m. Online sales only were up 24.1% to £53m.

Retail sales in the UK and Ireland were up 1% to £147.1m, while in North America they were up 1.8% to £61.8m. Retail sales in the rest of the world were down 1.8% to £11.2m.

Wholesale sales were up 10.1% globally to £85.9m compared to last year.

During the half year Ted Baker opened two new stores in the UK, three in the US, one in Spain, two outlets in Germany and one outlet in France.

It had licensee openings in India, Kazakhstan, Malaysia, Mexico, Singapore, Taiwan and Ukraine. Licence income was up 11.7% to £10.9m.

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

“Whilst we believe that the second half of the year will remain challenging due to external factors, we are 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 ecommerce business continues to expand, supported by our digital marketing strategy and unique stores that showcase the brand.”

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