Ted Baker sales and profits up as it continues expansion

Ted Baker has posted a 14% increase in interim sales as it continues to expand the brand in the UK and internationally.

The premium British fashion and lifestyle brand achieved group revenues of £295.7m in the 28 weeks to 12 August while profit before tax was up 17.8% at £25.3m; results that were in line with expectations.

It achieved strong growth across all channels and geographies. Retail sales including e-commerce were up 13.9% to £217.7m. UK and Europe retail sales were up 11% to £145.6m while North America was up 18.8% at £60.7m and Asia was up 29.5% at £11.4m.

E-commerce sales were up 43.8% at £42.7m, licensing was 23.1% at £9.7m while wholesale was up 14.1% at £78m.

The business has continued to grow and further expansion is planned with two new stores in the US and one new store in each of the UK, China and France, a relocation in Japan, and one new outlet in each of the UK and the Netherlands.

It is also planning further concessions with leading department stores across the UK, Europe, and Asia along with licensee openings in Australia, Dubai, Kuwait, Lebanon, Mexico, Qatar, Saudi Arabia and Turkey.

Founder and chief executive Ray Kelvin said the results were testament to the "strength and appeal of the Ted Baker brand, our business model and the passion, creativity and innovation of our global teams".

"We have a clear strategy for the development of the brand across both established and newer markets and this remains underpinned by the focus on design, quality and attention to detail that is at the core of everything we do," Kelvin said.