Ted Baker reaps rewards from growing its overseas footprint
TED BAKER’S expansion across Europe, the US and Asia has helped boost full-year profits at the quirky British fashion retailer.
The group, which has 362 stores and concessions across five continents, said profits before tax and exceptional costs jumped by 26.7 per cent to £40m in the year to 25 January.
Revenues were up 26.5 per cent to £321.9m, which founder and chief executive Ray Kelvin attributed to a strong performance in all countries it has launched in and in particular the US.
“We have done well in all territories and across all channels and we are on track to grow the business in line with our five year blueprint [launched last year],” he said.
Ted Baker said its retail business, which makes up around 80 per cent of sales, got off to a good start this year and that its wholesale and licence arms were also performing in line with expectations.