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Ted Baker sales and profits up as it defies tough market conditions

Lauretta Roberts
22 March 2018

Ted Baker has posted double-digit increases in sales and profits as the global fashion and lifestyle brand continues to defy tough market conditions.

Group revenues in the 52 weeks to 27 January 2018 were up 11.4% at £591.7m, while profit before tax and exceptional items was up 11.7% at £73.5m. Profits before tax were up 12.3% at £68.8m.

The group recorded strong growth across all channels and geographies. Retail sales were up 10.4% (8.5% in constant currency) to £442.5m with UK and Europe retail sales up 7.7 at £301.1m and US and Canada up 16.2% at £120.1m.

Ecommerce jumped by 39.8% to £101.1m while wholesale was up 14.6% at £149.2m and license income increased by 17.6% to £21.4m.

Founder and CEO Ray Kelvin said 2017 had been another year of continued progress towards its development as a global lifestyle brand and said its 2018 collections had already been well received but he expected the market conditions to remain tough.

"Our new collections have been received positively and although we anticipate external trading conditions will remain challenging across many of our global markets, the strength of our brand and business model mean that we remain well positioned to continue the Group’s momentum and long-term development," he said.

"We have a clear strategy for growth across both established and new markets which is underpinned by our controlled, multi- channel distribution as well as the design, quality and attention to detail that are at the heart of everything we do,” Kelvin added.

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