Sales and profits jump at Ted Baker

Ted Baker sales soared 16.4% in constant currency to £531m for the year to 28 January, as profits before tax were up 4.4% to £61.3m.

Retail sales at the business were up 15% year on year to £400.7m. UK and Europe sales increases 10.7% while sales in the US and Canada were up 28.3% on 2016. Online sales were up 35.1%.

Wholesale sales were up 20.9%, while license income rose by 26.8%.

Ted Baker chief executive Ray Kelvin said the business traded well despite a backdrop of “ongoing challenges across global markets”.

He added: “Our spring collections have been well received and we have a clear strategy for continued growth across both established and newer markets. This is underpinned by controlled distribution across channels as well as the design, quality and attention to detail that are at the core of everything we do.”

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