Upmarket High Street fashion brand Ted Baker is in a sweet spot.
The British brand, well known for being stocked in department stores, is building out its online retail operation while expanding into the US and Asia. As a result, business is booming.
Ted Baker put out its half-year results on Tuesday and they do it’s killing it pretty much across the board.
Here are the highlights:
- Revenue up 24.5% to £226.8 million.
- Pre-tax profit up 14.6% to £17.8 million.
- North American retail sales up 37.4% to £39.7 million.
- Asia retail sales up 31.0% to £7.6 million.
- E-commerce sales up 63.6% to £22.9 million.
Founder and CEO Ray Kelvin says in the statement:
This strong performance across all channels and territories is testament to the growing strength of Ted Baker as a leading global lifestyle brand. Through the passion of our team, supported by on-going and careful investment in the brand, we continue to attract customers both in the UK and overseas, who recognise our unwavering focus on quality, design and attention to detail.
Boutique investment bank Liberum has upped its target share price for Ted Baker this morning on the back of the results, which were just ahead of forecasts.