Ted Baker’s half-year profits have jumped by 24.2% and ecommerce sales at the fashion retailer have surged by almost 50%.
Ted Baker’s profits before tax and exceptional items increased year-on-year from £11.6m to £14.4m for the 28 weeks to August 9, 2014.
Group revenue jumped by 17.4% to £182.2m during the same period. Retail sales including ecommerce were up 14.8% to £140m on a 9.9% increase in average square footage.
The retailer’s ecommerce sales increased by 48.9% to £14m during the half year.
Ted Baker founder and chief executive Ray Kelvin said: “Ted Baker has continued to deliver a strong performance across its global markets and distribution channels during the first half of the year.
“We have successfully opened new space in our international markets, with further planned for the second half of the year in line with our strategy to focus on expansion opportunities that are appropriate for our brand. Our results for the full year will be dependent on the more weighted second half.”
Ted Baker reported solid retail sales growth across all its regions. Sales across UK and Europe, US and Canada, and Asia increased by 15.1%, 13.8% and 16% respectively.
During the period Ted Baker opened two stores in the UK, a store and outlet in France and a store and outlet in the US.
Ted Baker’s licence partners also opened stores in Dubai, Egypt, Saudi Arabia and Australia.
Ted Baker half-year profits jump 24.2% as ecommerce sales surge
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