UK: Global growth boosts Ted Baker H1 sales
By Katie Smith | 4 October 2012
- H1 sales up 15.4% to GBP118.6m
- International sales rose 58.1% to GBP2.8m
- PBT and exceptional costs increased 10.4%
Growth in international markets has helped fashion retailer Ted Baker to book a 15.4% rise in half-year sales, the company said today (4 October).
Group revenue reached GBP118.6m (US$191.1m) during the 28 weeks ended 11 August, compared with GBP102.8m the same period last year.
The UK-based firm said retail sales were driven by international growth. US retail sales rose 53.3% to US$25.6m, while the rest of the world saw sales increase 58.1% to GBP2.8m. UK and European retail sales climbed 7.9% to GBP74.7m.
E-commerce sales soared 82.4% to GBP6.2m as wholesale sales were up 15.4% to GBP24.9m.
Meanwhile, profit before tax dropped 8.4% to GBP7.8m, while profit before tax and exceptional costs increased 10.4% to GBP9.4m.
During the period, the company opened its first store in Tokyo, Japan and its first concessions in South Korea and the Netherlands.
Founder and chief executive Ray Kelvin CBE said: "We have delivered good results in a challenging environment whilst making important investments for the long term development of the brand."
Looking forward, he added: "As ever, our full year results will be dependent on trading in the important second half and we remain understandably cautious at this stage given the uncertainty in the global economy. However, we believe that we are well placed to deal with the challenges ahead."
The retailer also expanded into China earlier this week by opening its first store in Beijing.
Sectors: Apparel, Finance, Retail
Companies: Ted Baker
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UK: Global growth boosts Ted Baker H1 sales
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