Trading in the first half of the year has been strong for British fashion retailer Ted Baker, which announced on Tuesday its interim results for the 28 weeks to 13 August 2016.The global lifestyle brand said its three main distribution channels performed well, with retail sales up 13.6%, wholesale income up 16.7% and a 23.2% rise in licence income. As a result, Ted Baker’s group revenue grew by 14.4% to £259.5m.
The retail business was boosted by North American sales, which grew 28.7% in the period to £51.1m, followed by sales in Asia (up 15.8% to £8.8m) and UK and Europe sales (up 8.5% to £131.2m). The e-commerce channel generated £29.7m, representing a 29.7% increase year-on-year.
The company continued to invest in infrastructure as it continues its expansion push. The period saw the opening of new stores in the US,Canada and China, and the launch of an outlet store in Canada. Additionally, Ted Baker opened concessions in department stores across the UK, Europe, and Asia, as well as licensee store in Azerbaijan, Egypt, Mexico, South Africa, Taiwan and Vietnam.
In total, Ted Baker has now 470 stores, concession and outlets worldwide.
The retailer began to transition its operations into a new distribution facility in the UK this October. All operations from three distribution centres will be transitioned into this facility over the coming months, becoming the company’s main distribution centre in Europe.