Ted Baker’s CEO is understandably excited about the designer fashion brand’s results but his penchant for puns are quite cringing.
After Ted Baker confirmed that group
revenue jumped 20.4% to £387.6 million in the 53 weeks ended January, 31, 2015, compared to the previous year, Kelvin went a bit pun heavy with relaying his joy over the results in a regulatory statement (emphasis ours):
“The strength and success of the Ted Baker brand is testament to the skill, talent and ‘Tedication’ of our team across the world, and I would like to take this opportunity to thank them for their hard work and ‘pashion’ during the year. We look forward with continued confidence as we further develop Ted Baker globally.”
But you can forgive him for getting excited. Ted Baker’s retail
sales up 18.4% to £306.9 million. Profit before tax was up over 25% at £48.8 million while total dividend rose by over 19% to 40.3 pence.
This was mainly due to the massive surge in sales across all sectors:
- UK and Europe retail sales up 16.7% to £231.8 million.
- US and Canada retail sales up 24.9% to £63.3 million.
- E-commerce sales up 58.2% to £36.7 million.
- Wholesale sales up 28.5% to £80.7 million.
- Licence income up 31.2% to £11.7 million.
“This was another excellent year as we continued to develop Ted Baker as a leading lifestyle brand across global markets and distribution channels,” said Kelvin.
“We continue to invest in the brand as we develop in new markets where we see long term growth. All the while, we remain totally focused on the quality, design and attention to detail which underpins every area of the Group. Our customers’ reaction to our Spring/Summer collections across markets has been very encouraging and we are excited by our new store openings in the coming months, which include a first store devoted to showcasing our extended licence product range in Spitalfields, London.”
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