Ted Baker has reported healthy rises in its full-year profits and sales in what boss Ray Kelvin labelled a “good performance”.
The fashion retailer recorded a 12.3% rise in pre-tax profit year on year to $68.8m in the 52 weeks to January 27, bolstered by an 11.4% increase in group revenue to £591.7m.
The retailer’s retail sales rose 10.4% during the period, driven primarily by a 16.2% boost in its sales in the US and Canada to £120.1m and a £39.8m jump in ecommerce sales to £101.1m.
Ted Baker’s UK and Europe retail sales increased 7.7% to £301.1m, up 6.4% on a constant currency basis.
Wholesale sales grew 14.6% during the period to £149.2m, while licence income was up 17.6% to £21.4m.
The firm’s group margin held steady at 61% as increased full-price retail sales were offset by a fall in wholesale margins.
Chief executive and founder Ray Kelvin said: “I am pleased to report a year of continued progress in Ted Baker’s expansion as a global lifestyle brand.
“The group’s good performance demonstrates the strength of the brand as well as the quality and appeal of our collections.
“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.”
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