Good growth for Ted Baker
By Catherine Woods, published 1 year ago in Leadership.
Ted Baker founder Ray Kelvin says the clothing retailer remains “understandably cautious” about the second half of the year despite posting a 8.2 per cent increase in revenue to £71.6m.
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For the 28 weeks to 9 August, pre-tax profits also lifted 5.4 per cent to £7.4m. Kelvin, the enigmatic entrepreneur who founded Ted Baker in 1988, attributes the performance to “the strength of the Ted Baker brand combined with our successful multi-channel distribution strategy and careful international expansion”.
However, he adds: "The board is mindful of the uncertain economic environment and we remain understandably cautious about trading in the second half of the year."
The company's share price dropped following Kelvin's comments about the economy.
Ted Baker's results follow news from Asos that its sales have soared by 104 per cent for the six months to September 30.Related articlesAsos soars as the high street suffers“The UK is dead for small niche chains”Retailers vs landlords. It’s warPicture source
1 comment.
Jason Stanley of Cupid Lingerie.co.uk 1 year ago.
Ted Baker is one of the iconic brands of today. That it is weathering the recession better than most should not be surprising. Other high street brands seem to have been reducing quality in an effort to maintain margins, which alienates their existing customers - they still want the quality - they'll just buy less of it. Ted Baker is maintaining excellent quality and design, and no doubt picking up customer lost by other retailers.